Report
Sonia Vora
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Coty’ Efforts to Revitalize Its Brand Set Should Support Top-Line Recovery Longer Term

No-moat Coty's top line continued to languish in its third quarter, with organic sales declining 3.7% as the consumer beauty segment (42% of sales) remains hampered by share losses, lingering headwinds from the supply chain disruptions that began in the fourth quarter of 2018, and industrywide softness in the U.S. and Europe (a sentiment both wide-moat Estee Lauder and L'Oréal have echoed lately). This marked the third quarter in a row of sales declines (on a reported basis) amid a global beauty...
Underlying
Coty Inc. Class A

Coty and its subsidiaries are a beauty company. The company manufactures, markets, sells and distributes beauty products, including fragrances, color cosmetics, hair care products and skin and body related products. The company is organized into three divisions, which is also its operating and reportable segments: Consumer Beauty, Luxury and Professional Beauty. Consumer Beauty is primarily focused on color cosmetics, retail hair coloring and styling products, body care and mass fragrances. Luxury is primarily focused on fragrances, skincare and cosmetics. Professional Beauty is primarily focused on hair and nail care products for salon personnel.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Sonia Vora

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