The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Coty Inc. on Wednesday reported a loss of $164.2 million in its fiscal third quarter.
On a per-share basis, the New York-based company said it had a loss of 22 cents. Earnings, adjusted for one-time gains and costs, were 15 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The beauty products company posted revenue of $2.03 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.96 billion.
Coty shares have dropped nearly 3 percent since the beginning of the year. The stock has dropped 33 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.