×
40 914
Fashion Jobs
ESTÉE LAUDER COMPANIES
Latam E-Commerce Project Manager/Product Owner
Permanent · New York
MICHAEL KORS RETAIL INC
Sales Supervisor, Crabtree Valley, Raleigh nc
Permanent · Raleigh
GAP
General Manager - Lenox Square (Kids & Baby)
Permanent · Atlanta
GAP
General Manager - Northbrook Court
Permanent · Northbrook
GAP
General Manager- Stonebriar Mall
Permanent · Frisco
GAP
General Manager - Roseville Galleria
Permanent · Roseville
GAP
General Manager - Central Texas Marketplace
Permanent · Waco
GAP
Merchandise Planner - Boys - Outlet
Permanent · New York
GAP
Unassigned General Manager - Greater Nashville
Permanent · Nashville
ALICE AND OLIVIA
Sales Supervisor - Cabazon Outlet
Permanent · Cabazon
TARGET CORPORATION
Owned Brand Product Design Director, Pets
Permanent · MINNEAPOLIS
LA MER
Manager, Global Supply Chain Operations - Inventory
Permanent · New York
MAC
Business Development – Key Consumer Manager, Mac
Permanent · New York
H&M
Retail Flagship Visual Manager
Permanent · Chicago
JBCSTYLE
Art Director
Permanent · NEW YORK
JBCSTYLE
Sales Operations Coordinator
Permanent · NEW YORK
ESTÉE LAUDER COMPANIES
Manager, Solution Architect- Omni Retail
Permanent · New York
TOM FORD BEAUTY
Vice President, Marketing, Tom Ford Beauty North America
Permanent · New York
ESTÉE LAUDER COMPANIES
Category Insights Manager - Supply Chain
Permanent · New York
ESTÉE LAUDER COMPANIES
Senior Account Coordinator, Estee Lauder Travel Retail – Americas
Permanent · Los Angeles
ESTÉE LAUDER COMPANIES
Manager, Product Manager
Permanent · New York
ALICE AND OLIVIA
Sales Supervisor - Town Center at Boca Raton
Permanent · Boca Raton

Coty revenues miss, hit by lower demand for CoverGirl and Rimmel

By
Reuters
Published
today May 9, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Coty Inc reported quarterly revenue that fell short of analysts expectations, hit by supply chain disruptions and lower demand for its mass market cosmetic brands such as CoverGirl and Rimmel, sending its shares down as much as 9 percent.


Net revenue fell 10.4 percent to $1.99 billion, missing the average analysts’ estimate of $2.06 billion- Coty - Instagram: @cotyinc


The company has been grappling with supply chain problems related to the streamlining of distribution centers in Europe and the U.S., since its acquisition of about 40 beauty brands from Procter & Gamble in 2016.

According to the company’s own estimates, the disruptions have reduced revenue by over $150 million so far this year.

Coty said it had largely resolved these issues and expected any disruptions to have a minimal impact in the current quarter.

To battle revenue loss, the company has been cutting costs, simplifying its line of products and streamlining manufacturing.

Overall, net revenue fell 10.4 percent to $1.99 billion, missing the average analysts’ estimate of $2.06 billion, according to IBES data from Refinitiv.

Sales in its luxury segment, which includes brands such as Gucci and Hugo Boss, fell for the first time in at least two years to 3.1 percent, while the consumer beauty segment sales were down 18 percent, hurt by increased competition.

“We continue to view consumer as most challenged, with little underlying improvement,” Stifel analyst Mark Astrachan said.

Even with sales down, the company narrowed its net loss to $12.1 million in the third quarter, from $77 million a year ago, as it kept a tight lid on costs.
Total expenses fell 14.4 percent to $1.07 billion.

Excluding items, Coty earned 13 cents per share, beating analysts’ estimates by a cent.

The company’s shares recouped some of their losses and were down 4 percent at $11.42 in morning trade. They have risen 86 percent so far this year.

© Thomson Reuters 2019 All rights reserved.