The Weekly Closeout: Coty to cut 700 jobs, Adidas sports double-digit growth

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Retail Dive 1d ago

The Weekly Closeout: Coty to cut 700 jobs, Adidas sports double-digit growth - Retail Dive

Quick Summary:

The cutbacks are part of the beauty conglomerate’s strategic transformation, while preliminary Q1 results show momentum from the sports retailer.

The next phase of its transformation, which should occur through the first half of fiscal 2027, is expected to generate annual fixed cost savings of about $130 million before taxes, which includes $80 million in 2026 and $50 million in 2027.

The “All-in to Win” program aims to simplify and scale the company’s operating model, reduce complexities across markets and functions, and focus on innovation.“We are committed to building a stronger, more resilient Coty that is well-positioned for sustainable growth.