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Danone and Diageo Impacted by Coronavirus

Food and beverage giants warn of lost sales and profits from China and Europe for first quarter

Johnnie Walker 18 Year

According to CNN Business out of London yesterday, major food and beverage companies Diageo and Danone are warning the financial community about the impact of the virus, fears of which have been fueling financial market sell offs.

Joining the ranks of cruise lines, airlines, tourist destinations and electronics manufacturers, food and beverage companies are starting to announce negative repercussions from huge swaths of a population staying home to avoid exposure.

 The closure of bars and restaurants in China has already caused damage to earnings and profit expectations for the spirits giant.  Cases in Italy exemplify that Europe now, too,  may be impacted in a similar fashion.

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