Beauty giant Coty Inc. reports a loss of $20.1 million in its fiscal fourth quarter
The beauty products giant group Coty Inc posted an income of $1.04 billion in the period, missing Wall Street forecasts. Coty Inc. indicates declining sales in the U.S. and Asia for the overall negative results. Sales decrease 1,6% to $1,04 billion ( approx. 789 million euros). For the period ending June 30th, however, Coty Inc. has reduced losses from $60 million to $20 million, thanks to a restructuring of its business.
Founded in Paris in 1904, Coty Inc. produces and distributes in licensing the fragraces of Jil Sander, Canvin Klein, Chloe, Vera Wang – to name but a few. It also owns beauty brand Lancaster and nail polish mega brand OPI.