Tag: $Coty

Cosmetics maker Coty (COTY.N), on Tuesday said it had launched a strategic review of its consumer beauty business that could lead to the sale of brands such as CoverGirl and Rimmel, as it plans to focus on its more profitable fragrances unit.

Coty on Monday cut its annual profit forecast and posted a surprise drop in quarterly revenue, as it faces slowing demand for cosmetics from consumers who have reined in spending because of inflationary worries

The cosmetics company swung to a loss of $96.9 million, or 12 cents a share, for the fourth quarter ended June 30, compared to net income of $32.9 million, or 3 cents a share, a year earlier. Adjusted losses were 3 cents a share. Analysts polled by FactSet expected adjusted earnings of 5 cents a share.

Shares of Ulta Beauty tumbled as much as 14.5% on Wednesday after executives flagged a slowdown in demand across categories in the first quarter and stiff competition, weighing on peers elf Beauty, Coty and Estee Lauder.

Beauty company’s return to city of its founding seen as a vote of confidence in leadership of Sue Nabi

Coty Inc.’s stock  jumped 4.6% in premarket trade Wednesday, after the beauty, cosmetics and fragrance giant raised guidance for fiscal 2024, boosted by strength in its prestige fragrance business.

CoverGirl parent Coty forecast annual profit below Wall Street expectations on Tuesday, signaling a hit from steeper input and labor expenses even as the company raised product prices to shield itself from higher costs and a strong dollar.