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Though Cash Flow Is Healthy, U.S. Market Slowdown Depresses Coty’s 1Q Revenue

November 7, 2013: 12:00 AM EST
Coty Inc.’s net revenues dropped 2.6 percent to $1.2 billion in the first quarter, mainly due to a “significant market slowdown in the fragrance and nail categories,” the company reported. Profit decreased to $108 million from $118 million a year ago, while cash rose $123 million. The company blamed the revenue decline on color cosmetics, particularly in the Sally Hansen brand, which was affected by “the sudden and sharp trend inversion in the U.S. nail market” along with stiffer competition. The picture was rosier outside the U.S., where net revenues grew. EMEA revenues were up two percent, Asia Pacific revenues were up seven percent and emerging markets grew eight percent.
"Coty Inc. Reports First Quarter Fiscal 2014 Results", Coty, November 07, 2013, © Coty Inc.
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