Following Estee Lauder’s withdrawal of 2020 full-year guidance, Coty has issued an update of its COVID-19 initiatives. The company now expects its net revenues for Q3 2020 to decline about 20% like-for-like, “with a meaningful impact on profit.” This is expected to increase in Q4. That said, Coty has “ample and sufficient liquidity and headroom to meet its […]