Coty Reports Preliminary Q1 Results While Reiterating Its Full Year Profit Target; Q1 Sales Grew Approximately 4-5% LFL
Portfolio Pulse from Benzinga Newsdesk
Coty reported preliminary Q1 results with sales growing 4-5% LFL, slightly below the prior estimate of 6%. Despite retailer caution and a slower U.S. market, Coty expects moderate Q2 sales growth and acceleration in the second half due to easier comparisons, new launches, and distribution expansion.
October 14, 2024 | 8:31 pm
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Coty's Q1 sales grew 4-5% LFL, slightly below the 6% estimate. The company expects moderate Q2 growth and acceleration in H2 due to new launches and distribution expansion.
Coty's Q1 sales growth was slightly below expectations, which may cause short-term neutral sentiment. However, the company's positive outlook for Q2 and H2, driven by new product launches and distribution expansion, suggests potential for future growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100