US Beauty Firm Coty to Move Forward With Paris Share Sale

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Coty boosts core sales forecast as price hikes, strong beauty demand helpThe 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%. However, in August, the company forecast annual profit below Wall Street estimates, on a likely hit from steeper input expenses in the first half of the year and said it would raise product prices as it battles higher costs and a strong dollar.
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