Coty Maintains Momentum in Q2
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Coty (COTY) Tops Q2 EPS by 10c, Revenues Miss
February 9, 2021 6:48 AM ESTCoty (NYSE: COTY) reported Q2 EPS of $0.17, $0.10 better than the analyst estimate of $0.07. Revenue for the quarter came in at $1.42 billion versus the consensus estimate of $1.43 billion.
Continuing Operations
Revenues:
2Q21 reported net revenues of $1,415.6 million decreased 15.9% year-over-year, including a negative foreign exchange (FX) impact of 0.5%. LFL revenue decreased 17.9%, driven by LFL decreases in the EMEA segment of 24.8%, Asia Pacific segment of 17.2%, and Americas of 7.4%. By channel, the prestige business decline 15.6%, showing a significant improvement from -25.0% in Q1, while the mass business declined 21.6%.Year-to-date reported net revenues of $2,539.7 million decreased 17.9%... More