Coty raises annual core sales outlook as fragrances, cosmetics drive demand

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Coty raises annual core sales outlook as fragrances, cosmetics drive demand
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(Reuters) -Coty on Tuesday raised its annual core sales forecast on the back of higher pricing and strong demand from customers who snapped up the CoverGirl ...

-Coty on Tuesday raised its annual core sales forecast on the back of higher pricing and strong demand from customers who snapped up the CoverGirl parent's new makeup and fragrance launches.

Coty also posted sales growth in the Americas and Europe similar to beauty company L'Oreal, that noted an acceleration in growth in these regions after an initial slowdown. Coty now expects fiscal 2024 core like-for-like sales growth between 9% and 11%, compared with its previous outlook of an 8% to 10% rise.

The company posted a first-quarter net loss attributable to common shareholders of $1.7 million, compared with a profit of $125.3 million a year earlier.'What are you, an idiot?': Kevin O’Leary says people are wasting 15 to 20% of their income on ‘stupid stuff’ like coffee and sandwiches — here’s what he wants you to do instead

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