Coca-Cola Amatil says losing its supply contract with pizza giant Domino's and the failure to launch its new No Sugar Coke onto Woolworths' shelves will not hit the performance of the business.
The beverage giant suffered a dual blow on Thursday when it was reported Woolworths would not stock the new Coke product, despite the company describing its new No Sugar product as the largest Coke launch in the Australian market in over a decade.
It emerged Domino's Pizza had also dumped the drinks giant in favour of rival Pepsi - a move Deutsche Bank analyst Michael Simotas estimated would cut CCA's Australian drinks volumes by a million cases, or around 0.3 per cent.
In a statement just before the close of market on Friday, CCA said Woolworths' and Domino's decisions were not material to the company's performance.
"In relation to Domino's decision not to renew their product supply arrangment with Coca-Cola Amatil, while we are always disappointed when customers choose not to make our products available to their consumers, we respect their decision to do so," the company said.
Coca-Cola Amatil shares fell 24 cents, or 2.7 per cent to $8.67 on Friday following a 31 cent fall on Thursday.
Share
