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Coty quarterly revenue falls 3% as Europe lockdowns dent makeup demand

May 10 (Reuters) - Cosmetics maker Coty Inc reported third-quarter revenue on Monday that fell 3.3%, as sales of its beauty products were pressured by COVID-19 lockdowns.

Restrictions in certain parts of Europe, including UK and France, imposed to curb surging virus cases hampered demand for the company’s products including Rimmel lipsticks.

Coty’s revenue from continuing operations on a reported basis fell to $1.03 billion in the quarter from $1.06 billion.

Analysts had expected revenue of $1.03 billion, according to IBES data from Refinitiv. (Reporting by Aditi Sebastian; Editing by Shounak Dasgupta)

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