Overview
- Second-quarter net revenue was about $1.68 billion with like-for-like sales down 3%, a reported net loss of $126.9 million, and adjusted EBITDA down 15% as margins contracted.
- Management guided third-quarter adjusted EBITDA to roughly $100–110 million and flagged a 200–300 basis point year-over-year gross margin decline.
- Coty is reviewing its consumer beauty portfolio and related operations, and it has terminated the Orveda license to concentrate on scale, reach, and profitability.
- The new ‘Coty. Curated’ framework prioritizes sharper investment behind core, high-potential assets and a simpler operating focus under interim CEO Markus Strobel.
- Coty sold its remaining 25.8% Wella stake to KKR for $750 million, reduced leverage to a nine-year low of 2.7x net debt to EBITDA, and shares fell about 14% in postmarket trading after the update.