Flash Report 3 minutesRegister for Free AccessCoty Unveils Turnaround Plan Coresight Research July 2, 2019 Executive SummaryOn July 1, 2019, Coty announced a turnaround plan, designed to improve performance, especially in consumer beauty and to optimize its luxury and professional beauty businesses. The announcement also covers the financial outlook and provided information on management changes. The plan focuses on three strategic pillars: rediscover growth, regain operational leadership and build a culture of pride and performance. For FY20, Coty expects a moderating decline in net revenues, constant currency adjusted operating income to be up 5-10% and moderate improvement in free cash flow. By FY23, Coty forecasts 0-2% growth in net revenue, an operating margin of 14-16% — and hopes to attain a leverage ratio of net debt to EBITDA below 4x by that year. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Consumers’ Appetite for In-Store Shopping Remains Resilient: China Consumer Survey InsightsWeinswig’s Weekly: Understanding Amazon Fashion—Key Insights from Our Annual US Consumer SurveyEarnings Insights 2Q23, Week 1: Albertsons, Crocs, L’Oréal, Walgreens and More Post Positive Performance; Levi’s Sees Sales DeclineJuly 2023 US Retail Traffic and In-Store Metrics: Signs of a Nonfood Recovery as YoY Declines Ease
