Coty Slides Amid Challenges Integrating P&G's Beauty Brands
- Breakeven earnings per share miss 9-cent average estimate
- Consumer division recovery ‘is key priority for us,’ CEO says
Bottles produced by Waltersperger sit on display at the factory in Blangy sur Bresles, France, on Monday, Nov. 26, 2007. Waltersperger is a small to medium sized factory, SME, which manufactures glass bottles and containers for cosmetics, perfume and spirits. The business, which has 35 employees, also produces domestic glassware.
Photographer: Fabrice Dimier/BloombergCoty Inc. tumbled the most since going public four years ago after its quarterly financial report signaled the integration of dozens of beauty brands it bought from Procter & Gamble Co. is still proving to be a challenge.
Excluding some items, earnings per share broke even in the fourth quarter that ended June 30, the company said Tuesday. That missed analysts’ average 9-cent projection.