Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🙌 It's Here: the Only Stock Screener You'll Ever Need Get Started
Brazilian beauty giant Natura scraps earnings targets as losses mount
Published Nov 09, 2022 07:36PM ET
Updated Nov 09, 2022 10:16PM ET
2/2
© Reuters. FILE PHOTO: Workers handle cosmetic products at Natura's distribution center in Sao Paulo, Brazil December 19, 2019. REUTERS/Amanda Perobelli/File Photo
2/2
© Reuters. FILE PHOTO: Workers handle cosmetic products at Natura's distribution center in Sao Paulo, Brazil December 19, 2019. REUTERS/Amanda Perobelli/File Photo
2/2
(Reuters) -Brazilian cosmetics maker Natura & Co Holding SA on Wednesday posted a third straight quarterly loss and said it was scrapping previously given financial targets as it deepens its restructuring efforts.
Hit hard by slumping consumer demand globally as high inflation bites, the owner of the Natura, Avon, Aesop and the Body Shop brands logged a net loss of 559.8 million reais ($108 million) in the quarter ended September.
That compares with a 272.9 million reais profit in the same period a year earlier.
Net revenues dropped 6% to 9 billion reais but were up 2.2% in constant currency terms. Even in constant currency terms, however, its Body Shop sales tumbled 20% and its Avon International sales also fell.
Core earnings slid 38% to 589.5 million reais.
Natura, which saw new Chief Executive Fabio Barbosa take the helm in June, has been reviewing its business model and presence in underperforming markets. It has also flagged a possible U.S. initial public offering or spin-off of the luxury Aesop brand.
Barbosa said in a statement the results were in line with expectations that the company had given last quarter and its reorganisation efforts were proceeding well.
The company's shares have fallen 48% for the year to date.
($1 = 5.1864 reais)
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.