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