Coty Inc. (NYSE:COTY) Files An 8-K Regulation FD Disclosure
Item7.01.Regulation FD Disclosure.
Coty Inc. (the Company) is providing supplemental unaudited
historical combined financial information regarding the financial
performance of the combined company following the close of the
previously disclosed transaction to acquire certain assets and
liabilities relating to The Procter Gamble Companys global fine
fragrances, salon professional, cosmetics and retail hair color
businesses, along with select hair styling brands. The
supplemental unaudited historical combined financial information
is attached as Exhibit 99.1 hereto and is incorporated herein by
reference.
The Company is including non-GAAP financial information in the
supplemental unaudited historical combined financial information.
Reconciliation of these non-GAAP financial measures to the
nearest comparable GAAP financial measures are contained in the
supplemental unaudited historical combined financial information
attached as Exhibit 99.1.
Forward-Looking Statements
Certain statements in this Form 8-K are forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
reflect the Companys current views with respect to, among other
things, the Companys future operations and financial performance.
These forward-looking statements are generally identified by
words or phrases, such as anticipate, estimate, plan, project,
expect, believe, intend, foresee, forecast, will, may, should,
outlook, continue, target, aim and similar words or phrases.
These statements are based on certain assumptions and estimates
thatthe Companyconsiders reasonable and are subject to a number
of risks and uncertainties, many of which are beyond the control
ofthe Company, which could cause actual events or results to
differ materially from such statements, including:
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the Companys ability to achieve its global business strategy, compete effectively in the beauty industry and achieve the benefits contemplated by its recent strategic transactions within the expected time frame; |
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use of estimates and assumptions in preparing the Companys financial statements, including with regard to revenue recognition, stock compensation expense, the market value of inventory and the fair value of acquired assets and liabilities associated with acquisitions; |
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managerial, integration, operational, regulatory, legal and financial risks and expenses associated with the Companys strategic transactions generally and the Companys recent acquisitions pending partnership specifically; |
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the integration of The Procter Gamble Companys (PG) global fine fragrances, salon professional, cosmetics and retail hair color businesses, along with select hair styling brands with the Companys business, operations and culture and the ability to realize synergies and other potential benefits within the time frames currently contemplated; |
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changes in law, regulations and policies that affect the Companys business or products or the business or products of its pending acquisition; |
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the Companys and its brand partners’ and licensors’ ability to obtain, maintain and protect the intellectual property rights, including trademarks, brand names and other intellectual property used in their respective businesses, products and software, and their abilities to protect their respective reputations; |
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risks to the Company of claims by third parties for infringement on intellectual property rights; |
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the Companys ability to successfully execute its announced intent to divest or discontinue non-strategic brands and to rationalize wholesale distribution by reducing the amount of product diversion to the value and mass channels; |
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the Companys ability to anticipate, gauge and respond to market trends and consumer preferences, which may change rapidly, and the market acceptance of new products; |
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risks related to the Companys international operations, including reputational, regulatory, economic and foreign political risks; |
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the Companys dependence on certain licenses, entities performing outsourced functions and third-party suppliers, including third party software providers; |
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administrative, development and other difficulties in meeting the expected timing of market expansions, product launches and marketing efforts; |
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global political and/or economic uncertainties or disruptions; |
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increased competition, consolidation among retailers, shifts in consumers preferred distribution channels and other changes in the retail and wholesale environment in which the Company does business and sell their products; |
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disruptions in operations, including due to disruptions or consolidation in supply chain, manufacturing rights or information systems, labor disputes and natural disasters; |
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restrictions imposed on the Company through its credit facilities and changes in the manner in which the Company finances its debt and future capital needs, including potential acquisitions; |
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increasing dependency on information technology and the Company’s ability to protect against service interruptions, data corruption, cyber-based attacks or network security breaches, costs and timing of implementation and effectiveness of any upgrades to their respective information technology systems and failure by the Company to comply with any privacy or data security laws or to protect against theft of customer, employee and corporate sensitive information; |
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the illegal distribution and sale by third parties of counterfeit versions of the Companys products; |
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and other factors described elsewhere in this document and from time to time in documents that Coty files with the Securities and Exchange Commission. |
More information about potential risks and uncertainties that
could affect the Companys business and financial results is
included under the heading Risk Factors and Managements
Discussion and Analysis of Financial Condition and Results of
Operations in the Companys Quarterly Report on Form 10-Q for the
fiscal quarter ended September 30, 2016 and other periodic
reports the Company has filed and may file with the Securities
and Exchange Commission from time to time.
All forward-looking statements made in this communication are
qualified by these cautionary statements. These forward-looking
statements are made only as of the date of this communication,
and the Company does not undertake any obligation, other than as
may be required by law, to update or revise any forward-looking
or cautionary statements to reflect changes in assumptions, the
occurrence of events, unanticipated or otherwise, or changes in
future operating results over time or otherwise.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
| ExhibitNo. | Description | |
| 99.1 |
Supplemental unaudited historical combined financial information. |
About Coty Inc. (NYSE:COTY)
Coty Inc. is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli. Its color cosmetics products include lip, eye, nail and facial color products. The brands in its Color Cosmetics segment include Bourjois, Rimmel, Sally Hansen and OPI. Its skin & body care products include shower gels, deodorants, skin care and sun treatment products. Its skin & body care brands are adidas, Lancaster, philosophy and Playboy. The Company, through Hypermarcas S.A., engages in personal care and beauty business. The Brazil Acquisition segment includes product groupings, such as skin care, nail care, deodorants and hair care products. It operates in the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific.
