Coca-Cola is getting seriously worried about how fast Diet Coke sales are plummeting (KO)

Sales of Diet Coke are tanking.

Coca-Cola said global Diet Coke volume sales dropped 7% in its second quarter.

Sales of Diet Coke are dropping so precipitously that Pepsi-Cola surpassed Diet Coke to become the number two best-selling soda brand in the US earlier this year.

Sandy Douglas, Coca-Cola North America president, said on the company's earnings call on Wednesday that the "diet and frozen" parts of the food and beverage industry have been struggling for "a number of quarters,...

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