Coca-Cola, PepsiCo, McDonald’s, and Starbucks are temporarily pausing their operations in Russia given the ongoing events – a symbolic move by the iconic US brands
The decision was taken after the companies were criticized for continuing their operation in Russia after other US companies announced suspensions and paused sales, including Universal Music Group, Unilever, and L’Oréal.
Coca-Cola closed their operations in Russia, which accounts for roughly 2% of the company’s revenue and income.
Pepsi had sold its products in the country for more than 60 years, even when it had to trade its soda concentrate for Stolichnaya vodka and warships. Russia is one of the few regions where PepsiCo has a larger presence than Coca-Cola. The company generates roughly 4% of its annual revenue in Russia. Pepsi will not halt all business in the country, and it will continue to sell various essential products such as baby formula, milk, and baby food.
On the other hand, McDonald’s opened its first location just before the Soviet Union collapsed. It announced that it would temporarily close all its 850 sites.
Starbucks revealed that it would suspend all Russian business activity, including the shipment of its products.
At the moment of writing, Coca-Cola’s stock price was trading 1.52% higher, PepsiCo was up 1.03%, and Starbucks added 2.60%. McDonald’s scored a 1.69% increase.
Sources: bbc.com, cnbc.com, finance.yahoo.com
Utilizatorii/cititorii nu ar trebui să se bazeze exclusiv pe informațiile prezentate aici și ar trebui să facă propriile lor cercetări/analize, prin citirea cercetărilor de bază. Conținutul acestui document este generic și nu ia în considerare circumstanțele personale ale fiecărui individ, experiența de investiții sau situația financiară actuală.
Prin urmare, Key Way Investments Ltd nu va accepta nicio responsabilitate pentru eventualele pierderi ale traderilor datorate utilizării conținutului sau a conținutului informațiilor prezentate în acest document. Performanțele trecute și previziunile nu sunt indicatori fiabili ai rezultatelor viitoare.