Latest news with #Mercier
Fashion Network
7 hours ago
- Business
- Fashion Network
Coty's turnaround flagging as perfume sales drop set to persist
Coty Inc. fell after forecasting steep sales declines will continue as retailers clear out existing inventory and consumer demand remains tepid in the face of an uncertain economic outlook. Shares sank 12% in post-market trading. Coty dropped 30% this year through Wednesday's close, compared with an 8.7% rise for the S&P 500 Index over that time. In the current quarter, like-for-like sales, which measures revenue from existing business units, will fall between 6% and 8%, the perfume and cosmetic seller said in a statement, more than consensus expectations for a 2.6% drop. The struggles come at the end of a five-year turnaround initiative aimed at reinvigorating growth and amid reports that the company is contemplating selling off its high-end brands to peer Interparfums Inc. The lower-end brands, which include Covergirl and Rimmel cosmetics alongside fragrances for Adidas and Nautica, could also be sold in a separate transaction, Women's Wear Daily said in June. The weakness is due to continue into its second fiscal quarter, which ends in December, with Coty forecasting further declines of as much as 5%, while analysts were expecting little change from a year earlier. 'Retailers are really more focused on their inventory,' Chief Financial Officer Laurent Mercier said in an interview. As consumers pull back on their discretionary outlays, sellers are increasing discounts in order to move their stocks in the quarter. 'We are seeing, indeed, some increased promotional activity of the last months,' Mercier continued. 'We're making sure we're not playing that game or we're playing in a very disciplined manner.' Coty has introduced new products, including smaller sizes, to help maintain value in its brands, Mercier added. Last quarter, sales fell 9%, the most in more than four years, while its losses were steeper than analysts expected as demand for its mass-market products waned in the US. Across all three operating regions, the consumer beauty unit shrank 12%, the most since 2021. Tariffs will also weigh on profitability before mitigation efforts, including shifting fragrance production to the US, take hold in the first half of calendar 2026. Coty sees 'gradual improvements' in sales trends for both high- and low-end divisions beginning in the January-to-June period, driven by 'major' product launches and geographic expansion. There is early evidence that demand for Coty's high-end fragrances, which include Gucci and Burberry brands, is rebounding. In July, the company's prestige sales grew 13% in the US, compared with an 8% expansion industrywide, according to data firm Circana. The recent launch of its Boss Bottled Beyond fragrance has been promising as well, with its sales trajectory currently outpacing its 'blockbuster' Burberry Goddess product from fiscal 2024.
Fashion Network
7 hours ago
- Business
- Fashion Network
Coty's turnaround flagging as perfume sales drop set to persist
Coty Inc. fell after forecasting steep sales declines will continue as retailers clear out existing inventory and consumer demand remains tepid in the face of an uncertain economic outlook. Shares sank 12% in post-market trading. Coty dropped 30% this year through Wednesday's close, compared with an 8.7% rise for the S&P 500 Index over that time. In the current quarter, like-for-like sales, which measures revenue from existing business units, will fall between 6% and 8%, the perfume and cosmetic seller said in a statement, more than consensus expectations for a 2.6% drop. The struggles come at the end of a five-year turnaround initiative aimed at reinvigorating growth and amid reports that the company is contemplating selling off its high-end brands to peer Interparfums Inc. The lower-end brands, which include Covergirl and Rimmel cosmetics alongside fragrances for Adidas and Nautica, could also be sold in a separate transaction, Women's Wear Daily said in June. The weakness is due to continue into its second fiscal quarter, which ends in December, with Coty forecasting further declines of as much as 5%, while analysts were expecting little change from a year earlier. 'Retailers are really more focused on their inventory,' Chief Financial Officer Laurent Mercier said in an interview. As consumers pull back on their discretionary outlays, sellers are increasing discounts in order to move their stocks in the quarter. 'We are seeing, indeed, some increased promotional activity of the last months,' Mercier continued. 'We're making sure we're not playing that game or we're playing in a very disciplined manner.' Coty has introduced new products, including smaller sizes, to help maintain value in its brands, Mercier added. Last quarter, sales fell 9%, the most in more than four years, while its losses were steeper than analysts expected as demand for its mass-market products waned in the US. Across all three operating regions, the consumer beauty unit shrank 12%, the most since 2021. Tariffs will also weigh on profitability before mitigation efforts, including shifting fragrance production to the US, take hold in the first half of calendar 2026. Coty sees 'gradual improvements' in sales trends for both high- and low-end divisions beginning in the January-to-June period, driven by 'major' product launches and geographic expansion. There is early evidence that demand for Coty's high-end fragrances, which include Gucci and Burberry brands, is rebounding. In July, the company's prestige sales grew 13% in the US, compared with an 8% expansion industrywide, according to data firm Circana. The recent launch of its Boss Bottled Beyond fragrance has been promising as well, with its sales trajectory currently outpacing its 'blockbuster' Burberry Goddess product from fiscal 2024.
Fashion Network
17 hours ago
- Business
- Fashion Network
Coty's turnaround flagging as perfume sales drop set to persist
Coty Inc. fell after forecasting steep sales declines will continue as retailers clear out existing inventory and consumer demand remains tepid in the face of an uncertain economic outlook. Shares sank 12% in post-market trading. Coty dropped 30% this year through Wednesday's close, compared with an 8.7% rise for the S&P 500 Index over that time. In the current quarter, like-for-like sales, which measures revenue from existing business units, will fall between 6% and 8%, the perfume and cosmetic seller said in a statement, more than consensus expectations for a 2.6% drop. The struggles come at the end of a five-year turnaround initiative aimed at reinvigorating growth and amid reports that the company is contemplating selling off its high-end brands to peer Interparfums Inc. The lower-end brands, which include Covergirl and Rimmel cosmetics alongside fragrances for Adidas and Nautica, could also be sold in a separate transaction, Women's Wear Daily said in June. The weakness is due to continue into its second fiscal quarter, which ends in December, with Coty forecasting further declines of as much as 5%, while analysts were expecting little change from a year earlier. 'Retailers are really more focused on their inventory,' Chief Financial Officer Laurent Mercier said in an interview. As consumers pull back on their discretionary outlays, sellers are increasing discounts in order to move their stocks in the quarter. 'We are seeing, indeed, some increased promotional activity of the last months,' Mercier continued. 'We're making sure we're not playing that game or we're playing in a very disciplined manner.' Coty has introduced new products, including smaller sizes, to help maintain value in its brands, Mercier added. Last quarter, sales fell 9%, the most in more than four years, while its losses were steeper than analysts expected as demand for its mass-market products waned in the US. Across all three operating regions, the consumer beauty unit shrank 12%, the most since 2021. Tariffs will also weigh on profitability before mitigation efforts, including shifting fragrance production to the US, take hold in the first half of calendar 2026. Coty sees 'gradual improvements' in sales trends for both high- and low-end divisions beginning in the January-to-June period, driven by 'major' product launches and geographic expansion. There is early evidence that demand for Coty's high-end fragrances, which include Gucci and Burberry brands, is rebounding. In July, the company's prestige sales grew 13% in the US, compared with an 8% expansion industrywide, according to data firm Circana. The recent launch of its Boss Bottled Beyond fragrance has been promising as well, with its sales trajectory currently outpacing its 'blockbuster' Burberry Goddess product from fiscal 2024.
Boston Globe
11-08-2025
- Sport
- Boston Globe
Shrewsbury ousted by Waterford, Conn., on final day of American Legion Northeast Regional
Shrewsbury played from behind Sunday. A two-run single by Brayden Mercier, a Saint John's (Shrewsbury) alumnus, helped cut Waterford's lead to 4-3 in the third inning, but the momentum was short-lived. Martin Light launched a three-run homer in the top of the fourth as Waterford went up, 8-3. Advertisement A seventh-inning double from Doherty rising senior Tommy Kursonis started a two-run rally for Post 397, but Waterford closed the deal. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up As tournament host, Post 397 was guaranteed entry, but earned its way there anyway by winning Pod 3 and reaching the state championship game. It lost its regional opener, but roared back with three consecutive wins to reach the final day. Along the way, Brendan Parisi — the youngest player on the team, and who hardly saw varsity action at Saint John's in the spring — Advertisement Mercier, the team's ace, suffered an injury to his throwing elbow 'We came out and there were a ton of new guys on the team this year. We didn't know each other very well, so it was about getting that bond. It's easy to play with guys you're friends with,' said Mercier, who is committed to play baseball at UMass Amherst. 'I wanted to help however I could, even if it wasn't with my arm.' For Vaccaro, the season is about much more than baseball. Post 397 players set aside rivalries, played hard for their teammates, and put the team above themselves all summer. Competition turned into camaraderie. It's American Legion baseball at its best. 'Winning is important, but more than winning, I want them to learn life experiences,' said Vaccaro. 'I don't know if there are any major leaguers here — I hope there are — but in life, you have to compete. I pray they learn to do that and become whatever they want to become." Greece (N.Y.) Post 468 defeated Waterford, 7-5, to advance to the American Legion World Series, scheduled for Aug. 14-19 in Shelby, N.C. Shrewsbury Post 397 pitcher Jake Brodeur (left) confers with catcher Jackson Lucarelli before the start of an inning at Holy Cross. EVAN WALSH Shrewsbury Post 397's Gabe Terlato prepares to field a throw to second as a Waterford runner attempts a steal. EVAN WALSH
CTV News
01-08-2025
- CTV News
Mercier police search for minivan, multiple suspects after alleged attempted kidnapping
A Mercier Police cruiser is seen in this file photo. (SOURCE: Ville de Mercier) Officials in Mercier, a town about half an hour away from Montreal, are asking for the public's help in regards to an alleged attempted kidnapping that occurred on Sunday. According to town authorities, the incident happened at 3:30 p.m. near 500 Salaberry Blvd. West. 'A group of four young teenagers were riding their bikes westbound when a light grey Toyota Sienna van, occupied by six to eight young people aged 16 to 18, slowed down next to them,' a Facebook post by Mercier officials states. 'The suspects first made inappropriate comments, then made several U-turns around the group.' On the van's third circle around the children, 'the sliding door of the vehicle opened and two occupants attempted to grab a 12-year-old girl who was riding with her friends.' 'Frightened due to the proximity of the vehicle, the young cyclist lost control of her bike and fell to the ground,' officials note, adding the van drove away towards Sainte-Martine Street. Mercier police Handout by Mercier police. Police are looking for a pale grey Toyota Sienna, perhaps a 2016 model, with untinted windows, as well as six to eight French-speaking male suspects aged 16 to 18 years old. Anyone with information is asked to contact Detective Sergeant Jean-Luc Montpetit at 450-691-6090, ext. 808 or e-mail at
