[vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”administrator,editor,author,armember”][vc_column][vc_column_text]
In a very uncertain environment, Coty will improve its 2021-2022 fiscal year, thanks to its luxury division. The American cosmetics manufacturer has just announced at the same time a better than expected third quarter, ended in March, and better growth prospects for the current financial year.
For the full year ending June, Coty now expects EPS (earnings per ordinary share), excluding exceptional items, to be in the range of 23 to 27 cents, compared with 22 to 26 cents previously. The consensus is for 27 cents.
The third quarter allowed the American company to improve its projections. It posted a net profit of 50.3 million dollars, compared with a loss of 18.5 million dollars last year. Excluding exceptional items, EPS (earnings per ordinary share) rose to 3 cents compared to the consensus of 2 cents. Its sales grew by 15.4% to 1.19 billion dollars. This is more than the 1.15 billion dollars expected by Wall Street.
Resilience of the prestige division.
This pleasant surprise is due to the resilience of the Luxury division, which brings together prestige fragrances and skincare products from companies such as Balenciaga, Bottega Veneta, Burberry, Calvin Klein, Chloé, Gucci, Hugo Boss, etc. Its sales soared 21% to 726.4 million dollars in the third quarter.
“The prestige brands are experiencing phenomenal growth, which means that consumer confidence in buying our brands is intact,” Sue Nabi, Coty‘s CEO, told Reuters. In fact, the galloping inflation, almost worldwide, impacts the consumption of households with modest or average purchasing power, but not that of the most affluent. L’Oréal‘s luxury division itself has been sparking in 2021 and the first quarter of 2022.
Coty’s other two divisions, “Coty Consumer Beauty” and “Coty Professional Beauty”, are dedicated to colour cosmetics, hair colouring and styling products for the mass market, body care and fragrances, while the latter is dedicated to hair and nail care professionals.
Clouds over the fourth quarter.
The fourth quarter, which ends in June, will, however, further rock Coty as clouds – commodity inflation, war in Ukraine and restrictions on covid-19 in China – gather. According to Reuters calculations, the company is expected to post a loss per share of between 1 cent and 5 cents. Coty is, however, much less exposed than other competitors to the Chinese market, which accounted for only 4% of its sales last year. But the group considers it a “top priority” and is investing heavily in it.
Read also > WHAT IS THE IMPACT OF THE WAR IN UKRAINE ON LUXURY COSMETICS BRANDS ?
Featured photos : © Coty[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
In a very uncertain environment, Coty will improve its 2021-2022 fiscal year, thanks to its luxury division. The American cosmetics manufacturer has just announced at the same time a better than expected third quarter, ended in March, and better growth prospects for the current financial year.
For the full year ending June, Coty now expects EPS (earnings per ordinary share), excluding exceptional items, to be in the range of 23 to 27 cents, compared with 22 to 26 cents previously. The consensus is for 27 cents.
The third quarter allowed the American company to improve its projections. It posted a net profit of 50.3 million dollars, compared with a loss of 18.5 million dollars last year. Excluding exceptional items, EPS (earnings per ordinary share) rose to 3 cents compared to the consensus of 2 cents. Its sales grew by 15.4% to 1.19 billion dollars. This is more than the 1.15 billion dollars expected by Wall Street.
[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…
Already have an account ? Please log in.
[/vc_cta][vc_column_text]Featured photo : © Coty[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]
In a very uncertain environment, Coty will improve its 2021-2022 fiscal year, thanks to its luxury division. The American cosmetics manufacturer has just announced at the same time a better than expected third quarter, ended in March, and better growth prospects for the current financial year.
For the full year ending June, Coty now expects EPS (earnings per ordinary share), excluding exceptional items, to be in the range of 23 to 27 cents, compared with 22 to 26 cents previously. The consensus is for 27 cents.
The third quarter allowed the American company to improve its projections. It posted a net profit of 50.3 million dollars, compared with a loss of 18.5 million dollars last year. Excluding exceptional items, EPS (earnings per ordinary share) rose to 3 cents compared to the consensus of 2 cents. Its sales grew by 15.4% to 1.19 billion dollars. This is more than the 1.15 billion dollars expected by Wall Street.
[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…
Already have an account ? Please log in.
[/vc_cta][vc_column_text]Featured photo : © Coty[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]
