CoverGirl's parent Coty raises sales forecast, targets growth in skin care
BNN Bloomberg
Coty Inc. raised its outlook for the current quarter because of stronger-than-expected sales of more expensive fragrances and personal-care products, showing demand for higher-end items remains robust despite inflation.
Coty Inc. raised its outlook for the current quarter because of stronger-than-expected sales of more expensive fragrances and personal-care products, showing demand for higher-end items remains robust despite inflation.
The owner of the CoverGirl and Max Factor brands now expects sales growth of 8 per cent to 9 per cent on a comparable basis in the fiscal first quarter, according to a statement. That’s up from the 6 per cent to 8 per cent the company projected at the end of August.
“We are continuing to see expansion in terms of gross margin for the company,” Chief Executive Officer Sue Nabi said in an interview.
