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Coty Inc (COTY.N)

COTY.N on New York Stock Exchange

11.07USD
19 Jul 2019
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$0.02 (+0.18%)
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Latest Key Developments (Source: Significant Developments)

Coty Inc Says Edgar Huber's Annual Base Salary Set At $1 Million Related To Appointment As President Of Americas And APAC
Monday, 1 Jul 2019 

July 1 (Reuters) - Coty Inc ::COTY INC - EDGAR HUBER'S ANNUAL BASE SALARY SET AT $1 MILLION RELATED TO APPOINTMENT AS PRESIDENT OF AMERICAS AND APAC.COTY INC - GIOVANNI PIERACCIONI'S ANNUAL BASE SALARY SET AT $787,402 RELATED TO APPOINTMENT AS PRESIDENT OF EMEA.  Full Article

Coty Announces Turnaround Plan To Better Leverage Its Platform And Step Up Performance
Monday, 1 Jul 2019 

July 1 (Reuters) - Coty Inc ::COTY ANNOUNCES TURNAROUND PLAN TO BETTER LEVERAGE ITS PLATFORM AND STEP UP PERFORMANCE.SETS FINANCIAL TARGETS FOR FISCAL YEAR 2023.ANNOUNCES EXPECTATIONS FOR FISCAL YEAR 2020.EDGAR HUBER WILL BE APPOINTED PRESIDENT OF AMERICAS & ASIA PACIFIC.FIONA HUGHES WILL BE APPOINTED PRESIDENT OF CONSUMER BEAUTY BRANDS.SIMONA CATTANEO WILL BE APPOINTED PRESIDENT OF LUXURY BRANDS.ANNOUNCED A TURNAROUND PLAN TO DRIVE SUBSTANTIAL IMPROVEMENT IN CONSUMER BEAUTY WHILE ALSO FURTHER OPTIMIZING LUXURY AND PROFESSIONAL BEAUTY.GIANNI PIERACCIONI WILL BE APPOINTED PRESIDENT OF EMEA;.NEW ORGANIZATION DESIGN IS EXPECTED TO BE IN EFFECT BY JANUARY 1, 2020..COTY INTENDS TO CREATE A CENTRALIZED MANAGEMENT HEADQUARTERS IN AMSTERDAM.TARGETING FOR FISCAL YEAR 2023 OPERATING MARGIN OF BETWEEN 14% AND 16%.FULL STRUCTURE IMPLEMENTATION AND CONSOLIDATION OF MANAGEMENT HEADQUARTERS ARE EXPECTED TO BE COMPLETED BY JULY 1, 2020.TARGETING FOR FISCAL YEAR 2023 FREE CASH FLOW OF AROUND $1 BILLION.COTY EXPECTS TO INCUR ONE-TIME CASH COSTS OF APPROXIMATELY $600 MILLION SPREAD OVER FISCAL YEARS 2020 THROUGH TO 2023.FOR FISCAL YEAR 2023, ASSUMING NET REVENUES WILL REMAIN SIMILAR IN TOTAL TO THAT OF FISCAL YEAR 2019, AT A CONSTANT FOREIGN EXCHANGE RATE.SEES FY 2023 OPERATING MARGIN: BETWEEN 14% AND 16%.TO IMPLEMENT TURNAROUND, COTY EXPECTS TO INCUR ONE-TIME CASH COSTS OF APPROXIMATELY $600 MILLION SPREAD OVER FISCAL YEARS 2020 THROUGH TO 2023.  Full Article

Jab Extends Partial Cash Tender Offer To Acquire Up To 150 Million Shares Of Coty
Friday, 19 Apr 2019 

April 19 (Reuters) - JAB::JAB EXTENDS PARTIAL CASH TENDER OFFER TO ACQUIRE UP TO 150 MILLION SHARES OF COTY.JAB - OFFER NOW SCHEDULED TO EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON APRIL 24, 2019.JAB - TENDER OFFER IS BEING EXTENDED TO COORDINATE WITH ANTICIPATED TIMING OF ONE REMAINING REGULATORY APPROVAL IN RUSSIA.  Full Article

Coty Inc. Revises Tax Classification Of Dividends
Wednesday, 13 Mar 2019 

Coty Inc ::COTY INC. REVISES TAX CLASSIFICATION OF DIVIDENDS.COTY - NOW ESTIMATES THAT PENDING MARCH 15, 2019 DIVIDEND WILL BE CLASSIFIED AS A TAXABLE DIVIDEND.  Full Article

Moody's Places Coty's Ratings Under Review For Downgrade Following JAB's Proposed Partial Tender Offer Of Coty's Shares
Thursday, 14 Feb 2019 

Feb 13 (Reuters) - :MOODY'S PLACES COTY'S RATINGS UNDER REVIEW FOR DOWNGRADE FOLLOWING JAB'S PROPOSED PARTIAL TENDER OFFER OF COTY'S SHARES.  Full Article

Coty Inc - Supply Chain Disruption Had About $150 Million Of Net Revenue Impact Seen In 1H19
Friday, 8 Feb 2019 

Feb 8 (Reuters) - Coty Inc ::COTY INC - SUPPLY CHAIN DISRUPTION HAD ABOUT $150 MILLION OF NET REVENUE IMPACT SEEN IN 1H19, WITH +$90 MILLION OF LOST PROFIT - PRESENTATION.COTY INC, ON LUXURY COMPONENT SHORTAGES, SAYS CONTINUED SHORTAGES IN PUMPS AND METALIZED BOTTLES EXTENDING THROUGH 2H19.COTY INC, ON PROFESSIONAL BEAUTY WAREHOUSE, SAYS CONTINUED CONSTRAINTS IN NAIL SUPPLY GLOBALLY; EXPECT TO STABILIZE SERVICE LEVELS IN 2H19.  Full Article

Coty Inc Reports Second Quarter Fiscal 2019 Results
Friday, 8 Feb 2019 

Feb 8 (Reuters) - Coty Inc ::REPORTS SECOND QUARTER FISCAL 2019 RESULTS.QTRLY ADJUSTED EARNINGS PER SHARE $0.24.QTRLY LOSS PER SHARE $1.28.2Q19 REPORTED NET REVENUES OF $2,511.2 MILLION DECREASED 4.8%, WITH A LIKE-FOR-LIKE (LFL) REVENUE GROWTH OF 0.7%.QTRLY NET REVENUES $2,511.2 MILLION, DOWN ON (REPORTED BASIS) 4.8%.2Q19 REPORTED GROSS MARGIN OF 61.9% INCREASED BY 80 BPS FROM PRIOR-YEAR PERIOD.IMMEDIATE OBJECTIVE IS TO FINALIZE A STRATEGIC PLAN, WHICH WILL DEFINE AGENDA FOR MEDIUM TERM.ANTICIPATE A PROFIT TREND RECOVERY IN SECOND HALF OF FY19.EXPECT THAT FY19 CONSTANT CURRENCY ADJUSTED OPERATING INCOME WILL BE MODERATELY BELOW FY18.CONTINUE TO EXPECT POSITIVE FREE CASH FLOW FOR FY19.ON FEB 8, 2019, ANNOUNCED DIVIDEND OF $0.125 PER SHARE PAYABLE ON MARCH 15, 2019 TO HOLDERS OF RECORD ON FEB 28, 2019.Q2 REPORTED OPERATING. LOSS OF $804.6 MILLION, REFLECTS A $965.1 MILLION NON-CASH IMPAIRMENT CHARGE MOSTLY RELATED TO CONSUMER BEAUTY DIVISION, SELECT BRAND TRADEMARKS.Q2 ADJUSTED OPERATING. INCOME WAS ALSO IMPACTED BY SUPPLY CHAIN HEADWINDS & TIMING OF LUXURY SHIPMENTS.CONSUMER BEAUTY DIVISION CONTINUES TO BE AFFECTED BY INDIRECT IMPACTS OF SUPPLY CHAIN DISRUPTIONS, WHICH REDUCED NET REVENUE IN Q2.Q2 EARNINGS PER SHARE VIEW $0.22, REVENUE VIEW $2.47 BILLION -- REFINITIV IBES DATA.  Full Article

Coty Announces Resignation Of Camillo Pane, Current CEO Of Coty For Family Reasons
Monday, 12 Nov 2018 

Nov 12 (Reuters) - Coty Inc ::COTY ANNOUNCES NEW CEO AND BOARD CHANGES.ANNOUNCED RESIGNATION OF CAMILLO PANE, CURRENT CEO OF COTY, FOR FAMILY REASONS.RESIGNATION OF CAMILLO PANE, CURRENT CEO OF COTY,.APPOINTMENT OF PIERRE LAUBIES AS NEW CEO OF COTY, EFFECTIVE IMMEDIATELY.APPOINTMENT OF PIERRE LAUBIES AS NEW CEO OF COTY, EFFECTIVE IMMEDIATELY.BOARD HAS AGREED, STARTED PROCESS TO ADD TWO NEW INDEPENDENT BOARD MEMBERS.BOARD HAS AGREED AND STARTED A PROCESS TO ADD TWO NEW INDEPENDENT BOARD MEMBERS WITH DEEP COMMERCIAL AND FINANCIAL EXPERIENCE.PETER HARF IS TAKING OVER CHAIRMAN OF BOARD ROLE FROM BART BECHT EFFECTIVE IMMEDIATELY.BOARD DECIDED TO APPOINT ERHARD SCHOEWEL AS LEAD INDEPENDENT DIRECTOR.  Full Article

Coty Inc. Says Qtrly Adj SHR $0.11
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Coty Inc ::COTY INC. REPORTS FIRST QUARTER FISCAL 2019 RESULTS.COTY INC - QTRLY LOSS PER SHARE $0.02.COTY INC - QTRLY ADJUSTED EARNINGS PER SHARE $0.11.COTY INC - QTRLY NET REVENUES $2,031.3 MILLION DOWN 9.2 PCT.COTY INC - ENCOUNTERED SEVERAL TEMPORARY SUPPLY CHAIN-RELATED HEADWINDS IN QUARTER.COTY INC - 2Q19 YEAR-OVER-YEAR ADJUSTED EPS COMPARISON WILL BE PRESSURED BY $42 MILLION POSITIVE TAX SETTLEMENT RECORDED IN 2Q18.COTY - HURRICANE FLORENCE IN SEPT IMPACTED MANUFACTURING PLANT, DISTRIBUTION CENTER IN NORTH CAROLINA, IMPACTING LUXURY DIVISION IN QUARTER.COTY INC - DOES NOT EXPECT TO FULLY RECOVER 1Q19 FINANCIAL IMPACT IN BALANCE OF FY19.COTY - HAVE BEEN WORKING TO REMEDY SUPPLY CHAIN ISSUES AND EXPECT TO TEMPER HEADWINDS IN 2Q19, HAVE THEM BE SUBSTANTIALLY RESOLVED IN 3Q19.COTY INC - DECIDED TO MODIFY DISTRIBUTION CENTER CONSOLIDATION PLAN FOR REMAINDER OF YEAR TO MINIMIZE BUSINESS IMPACT.COTY - MODIFICATIONS SHOULD HAVE NO IMPACT TO COMMITMENT OF $225 MILLION OF SYNERGIES IN FY19 AND $750 MILLION TOTAL BY END OF FY20.COTY - EXPECT UNDERLYING YOY NET REVENUE TRENDS IN Q2 TO IMPROVE VERSUS Q1 ACROSS ALL 3 DIVISIONS, INCLUSIVE OF EXPECTED SUPPLY CHAIN HEADWINDS.COTY INC - EXPECT LUXURY AND PROFESSIONAL BEAUTY TO RETURN TO LFL NET REVENUE GROWTH IN Q2.COTY INC - DESPITE SUPPLY CHAIN HEADWINDS, CONTINUES TO EXPECT OPERATING PROFIT AND MARGIN GROWTH IN FY19.COTY INC SEES CONSUMER BEAUTY YOY TRENDS IMPROVE TO HIGH SINGLE DIGIT DECLINE IN Q2.  Full Article

Coty Announces CFO Transition
Tuesday, 21 Aug 2018 

Aug 21 (Reuters) - Coty Inc ::COTY ANNOUNCES CHIEF FINANCIAL OFFICER TRANSITION.COTY INC - PATRICE WILL REMAIN CFO THROUGH MID SEPTEMBER 2018.COTY INC - COTY IS RETAINING AN EXECUTIVE SEARCH FIRM TO CONDUCT A SEARCH FOR A SUCCESSOR.COTY INC - PATRICE DE TALHOUËT, EXECUTIVE VICE PRESIDENT AND GLOBAL CHIEF FINANCIAL OFFICER, WHO IS LEAVING COTY.COTY INC - AYESHA ZAFAR, COTY'S SENIOR VICE PRESIDENT, GROUP CONTROLLER, WILL SERVE AS INTERIM CHIEF FINANCIAL OFFICER EFFECTIVE SEPTEMBER 15, 2018.  Full Article

Coty to write down $3 billion in assets as it restructures, shares tumble

Coty Inc said on Monday it would write down about $3 billion in value of brands acquired from Procter & Gamble Co, as the struggling cosmetics maker laid out a four-year restructuring plan, sending its shares down as much as 19%. | Video