News | Latest Breaking News Stories & Headlines

Coty expects its annual profit to come in at the low end of its forecast

Coty sees annual profit at low end of forecast

Coty has said it expects annual profit to come in at the low end of its forecast, as weak demand for beauty products in major markets such as the US and Australia offset gains in the fragrance segment.

Business • 07 Nov 24

Coty said its net revenue for the fourth quarter rose 16%, to $1.35 billion, topping an expectation of $1.31 billion

Coty forecasts downbeat annual profit

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

Business • 22 Aug 23

Coty said retailers were restocking after plumping for leaner inventory in the previous quarters

Coty lifts profit forecast as shoppers seek luxury

Coty has today raised its annual profit forecast for the second time and beat third-quarter revenue estimates, buoyed by the CoverGirl parent's price hikes and steady demand for its high-end and affordable cosmetics and fragrances.

Business • 09 May 23

Coty said today that te beauty category is 'more resilient than ever'

Coty quarterly results beat estimates

Coty has today beaten Wall Street estimates for quarterly revenue and profit as higher prices and sturdy demand for its fragrances and cosmetics helped soften the hit from a strong US dollar and the company's exit from Russia.

Business • 08 Nov 22

Consumers undeterred by inflation-induced steeper prices continue to spend on luxury skin care and fragrance

Coty beats revenue estimates on strong demand

Coty has today beaten Wall Street expectations for fourth-quarter revenue, as consumers undeterred by inflation-induced steeper prices splurge on luxury skin care and fragrance.

Business • 25 Aug 22

Revenue at Coty's prestige division, that houses cosmetics and fragrances from the Hugo Boss, Gucci and Burberry brands, rose 21%

Coty lifts annual profit forecast on resilient demand

Cosmetics maker Coty has today raised its full-year profit outlook on resilient demand for its high-end fragrances and skincare products even at a time inflation in most countries has soared to multi-year highs.

Business • 09 May 22

Cosmetic companies such as Coty have also been battling the closure of many sales channels, including duty-free shops at airports

Makeup demand slump wipes millions off Coty's revenue

Gucci lipstick maker Coty has today missed market estimates for quarterly revenue, hurt by weak demand for makeup products as people stayed at home due to fresh Covid-19 restrictions.

Business • 09 Feb 21

Coty has been ramping up investments in its digital platform, helping it double its online penetration as a percentage of overall sales in the first quarter

Coty posts surprise profit as beauty products recover

Coty has today posted a surprise quarterly profit as demand for its beauty products and fragrances recovered from lockdown lows and the cosmetics maker kept a tight lid on costs.

Business • 06 Nov 20

Coty is to sell a majority stake in its hair and nail care brands, including Wella, to US buyout firm KKR for $3 billion

Coty hives off majority stake in Wella portfolio to KKR

Coty said it would sell a majority stake in its hair and nail care brands, including Wella and OPI, to US buyout firm KKR for $3 billion in cash in a push to simplify its product portfolio and cut down debt.

Business • 11 May 20

Kylie Jenner started her make up line with lipstick and lip liner kits in 2015

Coty takes $600m bet on Kylie Jenner's beauty brands

Coty is to pay $600m for a majority stake in Kylie Jenner's make-up and skincare businesses, as it looks to tap into the reality TV star's huge social media reach, sending its shares up as much as 5%.

Business • 19 Nov 19

Coty signs fragrance licensing deal with Burberry

British luxury brand Burberry has said it will license its fragrances and cosmetics to Coty in a deal totalling $225m (€211m) that will help it develop new products and benefit from the US group's distribution.

Business • 03 Apr 17

Coty merged with P&G last year making it one of the biggest beauty companies in the world

Coty to close Nenagh plant with loss of around 200 jobs

Coty has confirmed that its Nenagh plant will close by the end of 2018 with the loss of around 200 jobs.

News • 14 Mar 17

The plant at Nenagh was formerly the P&G plant

Fears for almost 200 jobs at Nenagh plant

Concerns have been raised for the future of almost 200 jobs at the Coty beauty products manufacturing plant in Nenagh, Co Tipperary.

News • 14 Mar 17

The Procter & Gamble beauty business includes brands such as Wella and Clairol

P&G to sell beauty business to Coty

Coty has sealed a deal to buy Procter & Gamble beauty business in a $12.5 billon transaction that will make the perfume maker one of the world's largest beauty companies.

Business • 09 Jul 15

Coty withdraws takeover bid for Avon

Beauty products group Coty has said it withdrew its $10.7-billion takeover bid for its larger, struggling rival Avon.

Business • 15 May 12

Coty