For the full fiscal year 2022, reported net sales were $12.44 billion, showing an increase of 7% compared to the prior year period. On a comparable basis, currency-neutral sales increased by 9%, with growth achieved across all divisions, led by double-digit increases in Nourish and Pharma.
Chief Finance Officer Laurent Mercier said that Coty would implement new price increases in a very granular manner.
Chairman, President and Chief Executive Officer Tim Boyle noted, “Financial performance could have been even higher, absent supply chain constraints.”
The Company expects gross and operating margin pressure to continue in the first half of 2023 as it sells through the remainder of its higher-cost inventory.
Levi Strauss & Co. also announced that Harmit Singh’s role has expanded to chief financial and growth officer.
Although the overall growth is on the rise, the performance fell short of the previously expected growth of 6-8%.
In APAC, Q3 revenue declined 4% due to China, partly because of the Covid impacts.
Investor interest has been heating up in the beauty services sector, and facials appear to be ripe for investment.
“Inflation altered the way U.S. consumers approached their holiday shopping – from hunting for the best deals to making trade-offs that stretched gift-giving budgets.”
L Catterton has significant experience investing globally in apparel and digitally-native companies. Current and past investments in the space include ba&sh; Just Over The Top (JOTT); Ganni; Sandro, Maje & Claudie Pierlot; Savage X Fenty; Sweaty Betty; and ThirdLove.
