After a first half that was already slightly down, the American beauty specialist slowed further in the third quarter, hampered by its consumer sales and, geographically, in the Americas and Asia-Pacific. Now expecting a 2% decline in sales for the fiscal year, it is continuing its restructuring plan to improve its performance in the future.
The weather continues to cloud over for Coty.
On May 6, the American beauty group announced a 6% decline in reported revenue (3% on a comparable basis) to $1.3 billion in the third quarter of its fiscal year ended June 30. This was below its own forecasts (-1% to -2%).
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Read also > Perfumes: Coty plans to cut 700 jobs
Featured photo: © Coty
