×
774
Fashion Jobs
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Thanjavur
Permanent · Thanjavur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Karjat
Permanent · Karjat
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Darjeeling
Permanent · Darjeeling
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Ankleshwar
Permanent · Ankleshwar
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Pali
Permanent · Pali
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kurseong
Permanent · Kurseong
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kumbakonam
Permanent · Kumbakonam
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Dausa
Permanent · Dausa
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Siana
Permanent · Siyana
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Tirupur
Permanent · Tiruppur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kashipur
Permanent · Kashipur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Dibrugarh
Permanent · Dibrugarh
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Aurangabad
Permanent · Aurangabad
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Palitana
Permanent · Palitana
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Rajgir
Permanent · Rajgir
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Gandhidham
Permanent · Gandhidham
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Tirupati
Permanent · Tirupati
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Lonavala
Permanent · Lonavala
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Durgapur
Permanent · Durgapur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Balasinor
Permanent · Balasinor
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Panhala
Permanent · Panhala
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Ranchi
Permanent · Ranchi
By
Reuters
Published
Nov 9, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Coty profit beats on demand for brands aimed at younger consumers

By
Reuters
Published
Nov 9, 2017

Beauty products maker Coty Inc  posted a quarterly profit on Thursday that beat Wall Street estimates, selling more products geared toward millennials and making progress folding in newly-acquired brands in an expanded global portfolio.


Archiv



Coty has been trying to keep pace with rivals Estee Lauder and LVMH’s Sephora, and has paid billions to acquire brands and take minority stakes in firms that appeal to younger consumers, most notably skincare brand Younique and ghd, which makes popular hair straighteners.

The shopping spree, which included 40-plus brands after paying $12 billion for Procter & Gamble’s beauty business, is paying off. It is now the third-largest beauty products maker in the world.

The company’s shares rose as much as 21 percent, marking their best one-day gain since February, 2016. They were up 16 percent at $17.12 in late morning trade.

Chief Executive Camillo Pane on Thursday said integrating these businesses was on track and that Coty would deliver the $780 million in savings it had promised investors.

“Today’s results should give some needed confidence to investors that the turnaround is progressing in a positive direction, despite a difficult macro-environment,” Wells Fargo analyst Joe Lachky wrote in a client note.

Pane also touted the impact Younique and ghd had on sales in its first quarter, saying they helped drive a 5 percent rise in combined company net revenue growth.

But some older brands like Clairol face waning demand from retailers, which are cutting back on inventories in favor of more niche brands.

Pane said the move would lead to uneven sales quarter-over-quarter and that sales in the second half of the year would be similar to the same period a year earlier.

Coty said it expected to regain some shelf space this year following the successful launch of Clairol’s Color Crave brand in the United States.

Excluding items, Coty earned 10 cents per share, compared to analysts’ estimates of a profit of 7 cents. Net sales more than doubled to $2.24 billion, but was in line with analysts’ estimates, according to Thomson Reuters I/B/E/S.
Estee Lauder reported better-than-expected sales and profit last week and lifted its expectations for the holiday-quarter, banking on its newly-acquired Too Faced and Becca brands, which are popular with millennials.

© Thomson Reuters 2022 All rights reserved.