Macro factors that could hamper results include the economic recession caused by businesses’ reactions to novel coronavirus pandemic, the impact of COVID-19 on consumer buying trends and disruptions to supply chains.

The beauty giant says it is selling its Professional Beauty and retail hair-care businesses to global investment firm KKR and targeting $700m in cost reductions over the next two and a half years. Coty already was in transformation mode prior to COVID-19, which drove a 23% decline in its third-quarter net sales, and it does not expect revenue levels to normalize anytime soon.

Plaintiffs allege that Coppertone sunscreens are deceptively labeled as “mineral-based” when they contain a larger percentage of chemical active ingredients than mineral active ingredients. On 31 July, California’s Northern District roundly rejected defendants’ motion to dismiss.