Welcome to our dedicated page for Coty news (Ticker: COTY), a resource for investors and traders seeking the latest updates and insights on Coty stock.
Coty Inc. reports recurring developments in its global beauty business, spanning prestige fragrances, color cosmetics, skin and body care, and mass-market beauty products. Company updates frequently cover sales trends by division, cash flow, debt reduction, product launches and campaigns for licensed fragrance franchises such as Calvin Klein, Hugo Boss, Burberry and Gucci.
News also reflects Coty's strategic and governance agenda, including the Coty.Curated framework, board refreshes, executive leadership changes and technology initiatives such as enterprise AI adoption. The company sells prestige and mass-market products in more than 120 countries and territories, giving its updates a recurring focus on brand investment, regional performance and portfolio priorities.
Coty Inc. (NYSE: COTY) announces plans to enhance shareholder value through a disciplined deleveraging strategy aimed at achieving a 2x leverage target by CY25. Currently, the company has reduced its leverage from approximately 7x to 4.7x. Coty is set to initiate a $200 million share buyback program in 2024, supported by total return swaps with banks. The firm aims to generate strong free cash flow and progressively resume equity distributions as it continues to strengthen its balance sheet.
On June 1, 2022, Kim Kardashian unveiled SKKN BY KIM, a nine-product skincare line developed in collaboration with Coty (COTY). This range aims to deliver high-performance skincare solutions suitable for all skin types. Each product leverages active ingredients and scientific formulations to enhance skin health. Launching on June 21, 2022, via a dedicated website, the collection emphasizes sustainability with refillable packaging. Prices range from $43 for the cleanser to $95 for oil drops, highlighting a focus on quality and efficacy in skincare.
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Coty Inc. (NYSE: COTY) reported a strong third quarter for FY22, with net revenues rising 15% to $1.19 billion, driven by robust growth in its Prestige segment, which surged 21%. Adjusted EBITDA reached $182.5 million, and adjusted EPS improved to $0.03. Gross margins expanded significantly, reflecting effective pricing strategies and product mix, despite inflationary pressures. The company reaffirmed its revenue and profit guidance for FY22, raising adjusted EPS projections to $0.23-0.27. Coty is progressing on debt reduction, with financial net debt decreasing by over $200 million to $4.24 billion.
Coty Inc. (NYSE: COTY) will announce its Q3 fiscal 2022 financial results on May 9, 2022. Key activities include:
- Earnings release at approx. 6:30 am EST
- Pre-recorded management remarks and slides at approx. 7:20 am EST
- Live Q&A session with CEO Sue Y. Nabi and CFO Laurent Mercier at 8:15 am EST
For more details, visit Coty's investor relations page.
Coty Inc. (NYSE: COTY) announced an expected shareholder distribution of $250 million from its equity stake in Wella, up from a prior estimate of $175 million. This increase follows Wella's refinancing plans. Coty intends to use these proceeds to fully redeem its EUR 550M 2023 unsecured bonds, accelerating its path toward a leverage target of approximately 4x by the end of fiscal year 2022. The company's net debt was $4.45B at the end of fiscal year 2021, with an adjusted EBITDA target of $1B for the current year.
Coty Inc. (NYSE: COTY) has launched a cutting-edge virtual try-on tool for Sally Hansen nail polish, utilizing Perfect Corp.’s AgileHand® Technology. This innovative application allows consumers to virtually experiment with a wide range of nail colors on their own hands via mobile devices, enhancing the shopping experience by making it hygienic and interactive. The tool will first be available in the U.S. and is part of Coty’s strategy to enhance digital engagement across its beauty brands, reflecting a commitment to incorporating advanced AI and AR technologies into consumer experiences.
Coty Inc. (COTY) reported robust financial growth in Q2 FY22, with sales up by 12% year-over-year, driven by successful product launches like Gucci Flora and Burberry Hero. The Consumer Beauty segment gained market share for the first time in five years, reflecting strong demand and effective brand strategies. Gross margins expanded significantly, reaching 64.4%, aided by cost reductions and favorable pricing. The company anticipates FY22 sales at the upper end of guidance, raising adjusted EPS expectations to $0.22-0.26, while financial net debt improved by about $500 million.
Coty Inc. (NYSE: COTY) has initiated production of the world's first globally distributed fragrances made with carbon-captured ethanol, developed in partnership with LanzaTech. This manufacturing at the Granollers facility in Spain began ahead of schedule in mid-January 2023, with the first products set to hit the market soon. Coty aims to integrate sustainable ethanol into the majority of its fragrance portfolio by the end of 2023, significantly reducing environmental impact by minimizing water consumption and agricultural land use.
Coty Inc. (NYSE: COTY) announced the pricing of $500 million of 4.750% senior secured notes due 2029. The offering is expected to close on November 30, 2021, subject to customary conditions. Proceeds will be used to repay euro-denominated loans under its senior secured credit facilities. The notes will be guaranteed by Coty’s subsidiaries and secured by first priority liens. This offering targets qualified institutional buyers and complies with Rule 144A and Regulation S under the Securities Act.