What happened A combination of a pandemic-driven sales slide and the company's own unforced errors sent Coty (NYSE: COTY) stock tumbling last year, and the cosmetics company finished 2020 down 38%, according to data from S&P Global Market Intelligence. The stock was down as much as 75% in October, but began to recover toward the end of the year as its turnaround efforts began to show traction. The chart below shows the stock's trajectory for the year. COTY data by YCharts So what Coty came into 2020 carrying a heavy debt burden after a deal to acquire Cover Girl and dozens of other beauty brands from Procter & Gamble didn't deliver the expected results. Those costs were magnified when the pandemic struck and Coty shares fell sharply as sales tanked across much of the cosmetics industry. Image source: Coty. Coty's performance went from an organic revenue decline of 1.4% in the fiscal second quarter of 2020, which ended in December 2019, to a 20% organic revenue decline in the subsequent quarter. In May, the company announced a strategic partnership with KKR, and signed a memorandum of understanding with the investment firm to take a majority stake in Coty's professional care business, Wella, or the products it sells to salons. The deal immediately gave Coty much needed cash in a $750 million preferred equity investment. In July, the company named Sue Nabi as its new CEO, its third in a year, and saw organic revenue plunge 60% in its spring quarter. The stock began to recover in November as its organic sales loss improved to 19% in the September quarter. Shortly after, the company announced its sale of Wella to KKR for $2.5 billion, sharply lowering its debt burden. Now what Coty enters 2021 with a shaky track record and still suffering from headwinds from the coronavirus pandemic. The company has also tied its business to members of the Kardashian family, taking stakes in cosmetics brands owned by Kim Kardashian and Kylie Jenner, which the company hopes will give it exposure to a younger audience. With the sale of Wella, sales numbers are unlikely to reach their former heights, but investors should keep an eye on the bottom line to see how the turnaround is going. If the company can deliver growing profits, the stock will respond favorably. 10 stocks we like better than Coty (Class A)When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Coty (Class A) wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool recommends KKR. The Motley Fool has a disclosure policy.Source