![\"Paixao](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/08\/f861.jpg\")
Paixao products, a Coty brand <\/p>\n
Shares of the beauty company were down about 9% in extended trading after it posted a wider-than-expected quarterly loss, although \u2060it said fiscal \u200c2027 would be a “transition \u2060year.” The company is advancing its “Coty. Curated.” strategy to simplify its business and conducting a review of the consumer beauty division.<\/p>\n
The review, expected to \u200bcomplete by \u200byear-end, could lead to the sale of brands such as CoverGirl<\/a> and Rimmel. The company said the CFO change was part of organisational changes it unveiled in early July under its “Coty. \u200cCurated” strategy.<\/p>\n Benchikh had \u200balso served as president, Europe at Diageo<\/a>, and is replacing Laurent Mercier, who served \u200cas Coty’s finance chief for \u2060about five years. The initiative, along with a cost-reduction program, would help offset \u200ca likely sales hit in fiscal 2028 from its early return of Gucci<\/a> Beauty license to Kering<\/a>, Coty said.<\/p>\n Coty’s net revenue rose 1.3% to $1.27 billion in the quarter ended June 30, compared with analysts’ average estimate of a 4.6% decline, \u200baccording to data compiled by LSEG. “Consumer demand for beauty remains resilient, with continued growth in fragrances and cosmetics, although consumers are becoming increasingly selective in their purchasing decisions,” \u200bthe company said.<\/p>\n Coty \u200csaid \u200bit saw a roughly 1% impact from the Middle East conflict, \u200cwhich \u200cwas less severe than the 2% to 3% hit it forecast in May. Quarterly adjusted loss per share narrowed to 2 cents from 5 cents a year ago, \u2060but was wider than analysts’ expectation of a 1 cent loss.<\/p>\n