The US is now reporting over 700,000 tests per day.
3.0200 While the lockdowns are impacting consumer demand in access. But we have been getting equipped to face dues and to not only face due, but to leverage the uncertainties and the opportunities we are going to cross. We expect that this is going to, to bring to Coty incremental cash proceeds of $3 billion so just these -- these part the 60-40 JV. 52 weeks
And then if there's been any sort of manufacturing issues with that business. −0.81% And we feel sufficiently are confident in these opportunities to be able to commit on EUR700 million, which means that we assume that some of them are not going to be realized on that, and if realized not realized fully. Well, the reality is that in the progress we see as we've made so far, we've seen a level of when, of course, which has been lower than what we had indicated, we had been pretty careful at the outset of the turnaround because the history of the company was encouraging us to take some, take some headroom.
So yeah, I mean we, with this $500 million net by the way, because we believe in -- in the restructuring we can also have some capital gain, which are going to finance some cost, we can do it with these envelope.Our next question comes from the line of Robert Ottenstein of Evercore.Great.
ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Op... They all have been truthful in their action and attitude to our vision that to build a bigger business, we needed first to build a better one.I have just share with you a few of our green shots, there are many orders growing currently in the company and many more to come.
I will conclude by just leveraging on the -- what Pierre has been telling you on the performance of -- of our brands in the middle of this -- this crisis and this quarter having a look at, what we see as some of our key assets for growth at the outset of the recovery, and that's quite interesting on Luxury or innovation pipe comprises many projects, some of them -- some of them yet to come and you see on the left of the chart, the Daisy Petals by Marc Jacobs and some of them have been very successful at launch, as mentioned by Pierre or will cover that obviously in the dynamic and this is a case of Boss Live and -- and CK Everyone.So this is obviously as we reactivate, our distribution going to be an asset for us.
Faiza Alwy — Deutsche Bank — Analyst. Overall, the like-for-like decline led to very meaningful operating profit deleveraging the quarter pushing our margin down to minus 14.1%.Despite this, we continue to see positive sign that our strategy is having success, as shown here both Sally Hansen and Clairol gain over 100 and 200 basis points respectively of market share in Australia during March.
13.4200
And these $1 billion, $750 million plus, $250 million on top of the $3 billions, I was referring to before.
And I think that's very, very fundamental with a $700 million cost reduction program and we have the relevant and we believe the right top-line levels and therefore we are all very exciting of having all these assets in hands and be able to and be able to be assessing a very attractive.That's all for these pretty long presentation and we'll try to answer your questions now.
As the COVID pandemic spreads to the Americas, leading to store closure and stay at home orders.
Select your points of interest to improve your first-time experience: Coty was founded in 1904 and is based in New York, New York.
3.0100 And when you're holiday of our covenants to reflect the fact that the covenants will be distorted by the -- by the crisis and we had also at the same time a bit ahead of that.