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Former Mars exec to sit on beauty brand board
NEW YORK — Olivier Goudet, partner and CEO of the Joh. A. Benckiser Group and former CFO of Mars Inc., has been appointed global beauty brand Coty’s board of directors. Goudet replaces Bernd Beetz, who stepped down from Coty's board to pursue other interests.
JAB is a privately held group that owns and invests in premium brands; it is also Coty's majority shareholder.
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Cache loss widens in Q1
New York -- Cache reported Tuesday a loss of $18.5 million for the first quarter, widened from a loss of $1.2 million in the same quarter last year. An income tax provision of $10.2 million and employee separation costs were cited as reasons for the worsened performance.
Revenue declined 5% percent to $53.5 million from $56 million, and same-store sales dipped 1.5%.