Coca-Cola
Enterprises Inc shares fell after the company warned that persistent
economic weakness in Europe, bad weather, a sharp excise tax increase in
France and fierce competition in Britain have dampened its outlook for
the second quarter.
Shares of the European
bottler of Coca-Cola drinks fell 3 percent in morning trade to $36.06 on
the New York Stock Exchange after it said those factors have been
"unexpectedly persistent".
"Though we expect
some of these challenges to abate as we move through the year, we will
better understand the full-year impact of these factors as we move
deeper into the prime summer selling season," said Chief Executive John
Brock in a statement.
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