05.08.19
Coty Inc. has revealed results for its third quarter of fiscal year 2019, ended March 31, 2019.
Reported net revenues were $1.9 billion, down 10.4% year-over-year, with a like-for-like (LFL) revenue decrease of 3.7%. This LFL decline reflected two temporary factors, changes in revenue recognition accounting, which reversed to a negative impact in 3Q19 from a positive impact in 2Q19; and moderate supply chain related headwinds, according to the company. Coty said that it estimates that these two factors together negatively impacted LFL revenues by approximately 2%. The performance, said Coty, reflects solid LFL growth in luxury, a slightly negative performance in professional beauty, and a 10% decline in consumer beauty, with the latter including approximately 3% of headwinds from the temporary factors.
Coty said yet-to-date reported net revenues are $6.5 billion, down 8.0%, with a LFL revenue decline of 3.3%.
Reported net revenues were $1.9 billion, down 10.4% year-over-year, with a like-for-like (LFL) revenue decrease of 3.7%. This LFL decline reflected two temporary factors, changes in revenue recognition accounting, which reversed to a negative impact in 3Q19 from a positive impact in 2Q19; and moderate supply chain related headwinds, according to the company. Coty said that it estimates that these two factors together negatively impacted LFL revenues by approximately 2%. The performance, said Coty, reflects solid LFL growth in luxury, a slightly negative performance in professional beauty, and a 10% decline in consumer beauty, with the latter including approximately 3% of headwinds from the temporary factors.
Coty said yet-to-date reported net revenues are $6.5 billion, down 8.0%, with a LFL revenue decline of 3.3%.