DIRS.INFO The most relevant business & tech news

Covergirl makeup, owned by Coty Inc, is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 7 (Reuters) - Coty (COTY.N) 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's efforts to launch key products such as Burberry Goddess in its high-end "prestige" category and CoverGirl's Yummy Gloss in the consumer beauty category drove a double-digit increase in these segments. The company 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. On an adjusted basis, Coty earned 12 cents per share, compared with analysts' estimates of 17 cents.

Persons: Andrew Kelly, Laurent Mercier, Z, Coty's, Thomas Hayes, Coty, Ananya Mariam Rajesh, Shounak Dasgupta Organizations: Coty Inc, REUTERS, Coty, Burberry, Reuters, Thomson Locations: Manhattan , New York City, U.S, United States, Europe, Swiss, Bengaluru

☆ Coty prices global shares at $10.80 ahead of Paris listing
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsSept 28 (Reuters) - Coty (COTY.N) said it would price its global offering of 33 million shares at $10.80 per share, and the stock is expected to start trading on the Paris Stock Exchange at 9.30 a.m. Eastern Time on Thursday. The CoverGirl cosmetics maker, which said in May that it would explore a dual listing in Paris, launched its global offering on Sept. 25. The company's U.S.-listed shares have fallen about 7% since the launch, but were up marginally in premarket trade on Thursday. Reporting by Juveria Tabassum; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Coty, Hugo Boss, Burberry, Juveria Tabassum, Varun Organizations: Coty Inc, REUTERS, Coty, Paris Stock Exchange, Thomson Locations: Manhattan , New York City, U.S, Paris, Europe, Middle East, Africa

☆ Coty boosts core sales forecast as price hikes, strong beauty demand help
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 20 (Reuters) - Coty (COTY.N) on Wednesday raised its annual core sales forecast on the back of higher pricing and strong demand as customers splurge on its high-end and affordable cosmetics and fragrances. The company said since it reported earnings in August it has seen a strong momentum in beauty demand, particularly in prestige fragrances - its high-end segment that houses cosmetics and fragrances from the Hugo Boss, Gucci and Burberry brands. Coty now expects fiscal 2024 core like-for-like (LFL) sales growth between 8% and 10%, up from its earlier outlook of LFL growth being at the top end of its target range of 6% to 8%. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Hugo Boss, Gucci, Ananya Mariam Rajesh, Shailesh Organizations: Coty Inc, REUTERS, Coty, Burberry, Wall, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

Raw material and freight costs have eased from pandemic-era highs, but a tight labor market is exacerbating the drag of persistent inflation on production costs. This overshadowed Coty's quarterly revenue beat despite customers splurging on its high-end and affordable fragrances and cosmetics, ranging from Hugo Boss to Gucci. The company reported a quarterly adjusted profit of 1 cent per share, missing estimates of 2 cents, according to Refinitiv data. Coty forecast 2024 adjusted profit between 44 cents and 47 cents per share. Rival Estee Lauder (EL.N) had also provided downbeat annual forecasts, hurt by frail recovery in travel retail and slowing U.S. demand.

Persons: Andrew Kelly, Hugo Boss, Gucci, Laurent Mercier, Mercier, Estee Lauder, Javier Gonzalez Lastra, EL.N, Juveria Tabassum, Ananya Mariam Rajesh, Pooja Desai Organizations: Coty Inc, REUTERS, Coty, Reuters, L'Oreal, Tema, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

The results reflect the recent trend of luxury shoppers indulging in lipsticks and fragrances even as they shun high-end purchases amid rising interest rates and product prices. Coty said a post-pandemic recovery in travel retail extended into the quarter. The company's prestige division, home to cosmetics and fragrances from the Hugo Boss, Gucci and Burberry brands, reported a jump of more than 30% in global travel retail sales across all regions. In contrast, peer Estee Lauder (EL.N) forecast weaker sales and profit last week, blaming slow recovery in travel retail, especially in Asia. Coty raised its 2023 adjusted per-share profit expectations to between 38 cents and 39 cents, from 35 cents to 36 cents earlier.

☆ Coty raises profit forecast on resilient demand, price hikes
▼ + stars: | 2023-02-08 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

[1/2] Gucci fragrances, owned by Coty Inc., are seen for sale in Manhattan, New York City, U.S., February 7, 2022. profit between 35 cents/shr and 36 cents/shrFeb 8 (Reuters) - Coty Inc (COTY.N) raised full-year profit forecast on Wednesday, betting on price hikes and resilient demand for its fragrances and cosmetics even as inflation pinches consumer wallets. The company's shares rose about 4% to $10.80 in premarket trading after also beating expectations for second-quarter revenue and profit. Analysts expect China's move in early December to relax its toughest COVID curbs and lift some travel restrictions to benefit luxury and beauty companies that had flagged a hit to sales in the country. The CoverGirl parent now expects 2023 adjusted profit of between 35 cents and 36 cents per share, against a prior forecast of 32 cents to 33 cents per share.

☆ The Beauty Industry Is Defying Inflation
▼ + stars: | 2022-11-08 | by ( Sharon Terlep | ) www.wsj.com time to read: 1 min

Consumers are still willing to pay up to look and smell good, setting the beauty industry apart from a range of industries dealing with declining demand from inflation-weary shoppers. Coty Inc., one of the world’s biggest beauty companies, on Tuesday said organic sales grew 9% in the quarter ended Sept. 30, the company’s sixth-straight substantial quarterly sales gain after years of declines that predate the Covid pandemic.

☆ Coty quarterly results beat estimates as beauty demand sits pretty
▼ + stars: | 2022-11-08 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

Shares in the company rose about 4% in premarket trading, after having fallen 34% this year. In fact, consumers are trading up from lower-priced consumer beauty labels to its prestige division, she said. The beauty category is "more resilient than ever", Nabi said, after Coty reiterated its annual profit forecast. Excluding items, the company earned 15 cents per share, surpassing estimates of 11 cents, according to IBES data from Refinitiv. Its net revenue rose 1% to $1.39 billion in the first quarter ended Sept. 30, compared with estimates of $1.37 billion.

☆ Goldman-backed project44 valued at $2.7 bln in latest funding round
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - U.S.-based supply chain management technology company project44 said on Thursday it was valued at $2.7 billion after its latest funding round that also saw participation from existing investor Goldman Sachs Asset Management. The $80 million funding round was led by investment firms Generation Investment Management and A.P. Moller Holding, while buyout firm TPG (TPG.O), venture capital firm Emergence Capital and others also participated. Project44 said the funds will be used to measure and reduce emissions across its global supply chain. The COVID-19 pandemic set off a crisis in global supply chains, which has also worsened inflation and put pressure on central banks to tame price hikes.

☆ Coty Aims to Double Skincare Sales in Three Years
▼ + stars: | 2022-09-21 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Kylie Skin is one of the brands of Coty Inc., which is making skin care a focus in its drive to double sales in coming years. Coty said Wednesday it expects to double sales of its skin care products in coming years, a goal the beauty company has kicked off by homing in on consumers in China. The beauty company said that it is on track to see skin care revenue increasing to as much as $600 million by 2025. In China, where it has rolled out brands and targeted new markets, it is already winning over consumers to its skin care lines, Chief Executive Officer Sue Nabi said ahead of a company investor event. She added that the total skin care market is $150 billion, leaving more opportunity for Coty to grow.

In March 2019, Forbes dubbed then 21-year-old Kylie Jenner the world's youngest "self-made" billionaire. The magazine later admitted Jenner had exaggerated the size of her business and pegged her true net worth at $600 million. Here's how Jenner has made her millions, from Kylie Cosmetics to TV appearances to product endorsements. Kylie Jenner, the ever controversial reality star, is 25 years old. Forbes previously declared Jenner the world's youngest "self-made" billionaire at age 21, thanks to her makeup company, Kylie Cosmetics.

Search resuls for: "Coty Inc"

11 mentions found