2023-08-16 01:35:34
© Reuters. Natura logo in São Paulo 12/19/2019 REUTERS/Amanda Perobelli/Arquivo
By Carolina Pulice
SAO PAULO (Reuters) – Natura&Co (BVMF:) expects its accounts to improve in the second half of the year after a weak start to 2023, executives said on Tuesday, with a cash boost expected from the sale of its Aesop brand. and strategic changes.
The cosmetics manufacturer recorded a net loss of 732 million reais in the second quarter on Monday, practically stable compared to the negative result suffered in the same period last year, and the company said it still faces “high financial expenses”.
Natura added that this will be resolved after the completion of the sale of its Australian luxury brand Aesop, scheduled for the third quarter, having closed a US$2.53 billion deal in April with French cosmetics group L’Oréal (EPA :).
“(The problem of) leverage will already be resolved in the third quarter,” Natura’s chief financial officer, Guilherme Castellan, told reporters on Tuesday, adding that the company will also resolve its debt payments in the fourth quarter.
The company also plans to invest in advertising and store restructuring in some countries as part of the overhaul of its operations.
Furthermore, Natura intends to expand its brand integration program — bringing together the Natura and Avon brands under the same sales teams — to Brazil in the coming weeks.
“All other geographies will be implemented throughout 2024”, said the executive president of Natura in Latin America, João Paulo Ferreira.
#Natura #sees #cash #increase #year #loss #2nd #quarter #Reuters