Understanding Coats
Prospects
Following a year of excellent progress in transforming the business, market share gains and increased profitability, we expect to deliver another year of strong strategic and operational progress.
This is in a macroeconomic environment where there is a softening in demand and some destocking by customers, primarily in Apparel markets and to a lesser extent in Footwear markets.
We continue to proactively respond to macroeconomic uncertainty and inflationary pressures using our well-defined and tested playbook that focuses on cash, costs, self-help and tactical pricing actions.
As a result, we continue to anticipate that full year 2023 performance will be in line with the Board’s expectations, with a weighting to the second half.
This performance will be underpinned by the contribution from acquisitions, in addition to associated synergies and efficiencies from strategic projects.