Coty Unveils ‘Coty Curated’ Turnaround Strategy Under Interim CEO Markus Strobel Amid Mixed Q2 Results

Core Insights - Coty is undergoing a leadership transition with Markus Strobel appointed as interim CEO, emphasizing the need for significant improvements in the company's performance [1][2] - Despite having strong assets and competitive advantages, Coty's financial performance has been disappointing, leading to a new strategic plan called "Coty Curated" aimed at enhancing focus and execution [3][4] Financial Performance - For Q2 of fiscal year 2026, Coty reported net revenue of $1.7 billion, a 1% increase year-over-year, with prestige net revenue at $1.13 billion (up 2%) and consumer beauty net revenue at $545 million (down 2%) [5][6] - The company experienced a net loss of $126.9 million compared to a net income of $20.4 million in the previous year, although adjusted earnings per share improved to 14 cents from 11 cents [6] Strategic Initiatives - Coty is conducting a portfolio review to identify opportunities for unlocking shareholder value, particularly focusing on its mass color cosmetics business and operations in Brazil [4] - The company has withdrawn its previous fiscal year '26 guidance for earnings before interest, taxes, depreciation, and amortization due to market complexities and leadership changes, now providing guidance only for the third quarter [7]