Three numbers to start your day:
Coca-Cola’s Stock Down 6% for 2020
It puts Coca-Cola in the bottom half of the Dow Jones Industrial Average in terms of the stock’s performance in 2020.
Rival PepsiCo, meanwhile, is up about 6% year-to-date.
The two companies’ different fortunes are a reflection of how their products are consumed. People stocked up their pantries as the pandemic rolled on. But around half of Coke’s sales are centered on events and restaurants. Pepsi products are more commonly eaten at home.
Coke’s prospects are looking stronger for next year. The company is planning to restructure, and improvements in the trajectory of the pandemic should help sales.
Wonder Woman 1984 Makes $16.7 Million in U.S. Box-Office Debut This Weekend
While it’s a smaller-than-usual number for a blockbuster film, the figure represents the best box-office debut of the year.
Last year, Star Wars: Rise of Skywalker earned almost double that amount on Christmas Day alone.
Over half of the movie theaters in North America remain closed because of the pandemic. That has limited how much film distributors can make at the box office.
The film’s distributor, Warner Bros., also released the film to the streaming platform HBO Max this weekend. Warner Bros. didn’t disclose how the film performed with home audiences.
Instacart Sales Up 300% Compared with Last Year
The grocery-delivery service has thrived during the pandemic. With so many Americans hesitant to shop in person, grocery stores have seen booming demand for delivery options.
Partnering with companies like Instacart allows grocery chains to start offering delivery without needing to build their own apps.
But even with so many more people eating at home these days, supermarkets that rely on Instacart for delivery aren’t sure they are coming out ahead. That is because of the steep fees that Instacart charges.
As a result, some chains are beginning to rethink their relationship with companies like Instacart.
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Write to Jacob Passy at [email protected]