Coca-Cola Ties Political Tension to Hispanic Consumer Pullback

Coca-Cola Co. said that geopolitical tensions caused by US immigration and trade policies are partially to blame for Hispanic consumers spending less on the soda company’s beverages.

The company said that first-quarter total volume in North America fell 3%, citing the tension as a contributing factor. Chief Executive Officer James Quincey told analysts “severe weather” and calendar effects also caused “weakening consumer sentiment as the quarter progressed, particularly among Hispanic consumers.”

“Some of the geopolitical tension was just causing people to be a little more cautious with their spend, a little less going out, a little more keeping the money ...