Coty posts bigger-than-expected quarterly loss after Covid-19 store closures
The cosmetics maker reports a 56% slump in sales but expects a return to profit this quarter
27 August 2020 - 17:10
Bengaluru — Cosmetics maker Coty on Thursday posted a bigger-than-expected quarterly loss and a 56% slump in sales, as the coronavirus-induced closure of stores and parlours hammered demand for its beauty products.
Shares of Coty, a majority of which is owned by German conglomerate JAB Holding, were down 4% in premarket trade...
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