Coca-Cola Pulls TV Advertising from Four TV Stations in Russia
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- August 6, 2014
Coca-Cola (KO) pulled its advertising from four Russian TV stations on Wednesday. All four stations are reportedly connected to companies and individuals affected by U.S. sanctions. Coca-Cola insists U.S. sanctions are not the reason for pulling the ads. The soft-drink company instead cited a revised marketing push following a drop in second quarter sales. In an emailed statement the company said,'As a result of Coca-Cola sales performance in Russia in Q2 2014 our Company decided to change the advertising plan in Q3 and concentrate on key federal and most effective TV channels for our target audience.' Coca-Cola's second quarter earnings report cited a mid to single-digit decline in sales volume as well as a loss of $25 million due to the restructuring of its juice operations in Russia. TheStreet's Julie Cerullo reports.
