SniperFx

Archives

  • March 2023
  • February 2023
  • January 2023
  • September 2022
  • August 2022
  • January 2022
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Analysis
  • Bonds
  • COVID
  • Crypto
  • Forex
  • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • Uncategorized
  • World
  • Home
  • Forex
  • Crypto
  • Contact
0 Likes
0 Followers
0 Followers
Subscribe
SniperFx
SniperFx
  • Bonds
  • Crypto
  • COVID
  • Forex
    • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • World

Coty beats revenue estimates on strong demand for luxury beauty products

  • admin
  • August 25, 2022
  • 2 minute read
Total
0
Shares
0
0
0

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

Shares of the company were up about 4% in premarket trade, after having fallen 30% this year.

Lipstick and foundations are flying out of shelves with higher-income consumers indulging in smaller luxuries as decades-high inflation renders their plans for bigger purchases unattainable- a phenomenon known as the “lipstick effect”.

This comes as an opportunity for luxury beauty companies that have struggled with sales due to pandemic lockdowns that had kept people at home and their cosmetics requirements limited.

The Hugo Boss perfume maker expects full-year 2023 adjusted profit per share to increase in the mid-teens from a year earlier.

Bigger rival Estee Lauder (NYSE:EL) beat fourth-quarter results, but forecast full-year sales and profit below estimates last week due to a larger exposure to China, where recent COVID-19 lockdowns hit traffic at retailers.

While Coty (NYSE:COTY)’s smaller China exposure has it better placed, Chief Executive Officer Sue Nabi told Reuters in an interview the company would undertake further price increases this year, following an initial round in fiscal 2022, to boost profit margins.

“We are offsetting quite strongly the effect of the inflation on cost of goods,” Nabi said, adding that supply chain costs have been easing from pandemic-highs.

Coty has also been accelerating marketing investments such as livestreaming and promotions on social media sites such as TikTok, which play a big part in influencing young consumers’ shopping decisions.

Net revenue in the fourth quarter ended June 30 rose 10% to $1.17 billion, beating analysts’ average estimate of $1.14 billion, according to IBES data from Refinitiv.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
admin

Previous Article

Asian Currencies Edge Higher as Dollar Dips Before Jackson Hole

  • admin
  • August 25, 2022
View Post
Next Article

Pakistan court extends former premier Khan’s pre-arrest bail on terrorism charges

  • admin
  • August 25, 2022
View Post
You May Also Like
View Post
  • Stocks

Adidas retracts opposition to Black Lives Matter three-stripe design

  • admin
  • March 29, 2023
View Post
  • Stocks

Starbucks, union at odds over hybrid negotiations

  • admin
  • March 28, 2023
View Post
  • Stocks

Novartis shares surge on positive results from key cancer drug trial

  • admin
  • March 27, 2023
View Post
  • Stocks

Standard Chartered agrees to sell business in Jordan

  • admin
  • March 26, 2023
View Post
  • Stocks

Britain’s John Lewis has lost its soul, says Mary Portas

  • admin
  • March 25, 2023
View Post
  • Stocks

Citigroup CEO declares ‘this is not a credit crisis’ after U.S. bank failures

  • admin
  • March 23, 2023
View Post
  • Stocks

First Republic Bank shares climb amid report of possible government backstop

  • admin
  • March 22, 2023
View Post
  • Stocks

EU court rules Mercedes must pay damages in diesel lawsuit

  • admin
  • March 21, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Taiwan president defiant after China threatens retaliation for US trip
  • Adidas retracts opposition to Black Lives Matter three-stripe design
  • XRP Price Prediction What to Expect in the Next 48 Hours
  • HelenP. I Euro break resistance 1.0800 and can continue to grow
  • Concerns about insufficiently decisive Riksbank would put SEK under downward pressure – Commerzbank

Recent Comments

No comments to show.
Featured Posts
  • 1
    Taiwan president defiant after China threatens retaliation for US trip
    • March 29, 2023
  • 2
    Adidas retracts opposition to Black Lives Matter three-stripe design
    • March 29, 2023
  • 3
    XRP Price Prediction What to Expect in the Next 48 Hours
    • March 29, 2023
  • 4
    HelenP. I Euro break resistance 1.0800 and can continue to grow
    • March 29, 2023
  • 5
    Concerns about insufficiently decisive Riksbank would put SEK under downward pressure – Commerzbank
    • March 29, 2023
Recent Posts
  • EUR/USD comes under pressure near 1.0850
    • March 29, 2023
  • Crypto Trader Firmly Believes ADA’s Next Target Could Be $0.60
    • March 29, 2023
  • Game-Changer Nasal Spray A Universal Shield Against All COVID-19 Variants
    • March 29, 2023
Categories
  • Analysis (12)
  • Bonds (50)
  • COVID (77)
  • Crypto (69)
  • Forex (85)
  • Forex Trading (50)
  • Ideas (50)
  • Investing (50)
  • Stocks (93)
  • Uncategorized (40)
  • World (199)
SniperFx
  • Home
  • Forex
  • Crypto
  • Contact
Forex & Crypto Updates

Input your search keywords and press Enter.