November 7, 2018 / 11:48 AM / 10 days ago

Coty revenue misses estimates due to supply-chain disruption

Nov 7 (Reuters) - Coty Inc reported quarterly revenue on Wednesday that missed Wall Street expectations, as the beauty products maker’s distribution and manufacturing centers in North Carolina were affected by hurricane Florence.

Net loss attributable to the New York-based company narrowed to $12.1 million, or 2 cents per share, in the first quarter ended Sept. 30, from a loss of $19.7 million, or 3 cents per share, a year earlier.

Net revenues fell 9.2 pct to $2.03 billion, missing expectations of $2.17 billion, according to IBES data from Refinitiv. (Reporting by Jaslein Mahil; Editing by James Emmanuel)

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