U.S. markets close in 4 hours 50 minutes
  • S&P 500

    4,362.20
    -80.91 (-1.82%)
     
  • Dow 30

    34,415.60
    -453.77 (-1.30%)
     
  • Nasdaq

    14,584.29
    -385.68 (-2.58%)
     
  • Russell 2000

    2,250.65
    -30.36 (-1.33%)
     
  • Crude Oil

    75.16
    -0.29 (-0.38%)
     
  • Gold

    1,733.10
    -18.90 (-1.08%)
     
  • Silver

    22.39
    -0.30 (-1.34%)
     
  • EUR/USD

    1.1678
    -0.0023 (-0.20%)
     
  • 10-Yr Bond

    1.5370
    +0.0530 (+3.57%)
     
  • GBP/USD

    1.3530
    -0.0174 (-1.27%)
     
  • USD/JPY

    111.3980
    +0.4200 (+0.38%)
     
  • BTC-USD

    41,472.12
    -1,792.71 (-4.14%)
     
  • CMC Crypto 200

    1,026.92
    -30.23 (-2.86%)
     
  • FTSE 100

    7,041.97
    -21.43 (-0.30%)
     
  • Nikkei 225

    30,183.96
    -56.10 (-0.19%)
     

Coty Hits Highest in a Year After Reiterating Guidance, Focus On Growing User Base

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

By Dhirendra Tripathi

Investing.com – Coty (NYSE:COTY) rose to a 52-week high as the company reaffirmed its forecast for 2021.

The beauty products maker provided a strategic update and said it is on track to end FY21 with net revenue of approximately $4.5 billion to $4.6 billion. Adjusted EBITDA is targeted at around $750 million, reflecting an improvement of more than 300 basis points from FY19.

It will host a conference call to discuss its third quarter earnings on May 10.

Coty said it intends to strengthen the performance of its consumer beauty business and broaden its consumer base. It aims to reposition several key brands like CoverGirl, Sally Hansen, Rimmel, Max Factor, and adidas to achieve that purpose.

Coty intends to build its skincare portfolio across Mass and Prestige by capitalizing on key trends like regenerative medicine and focusing on environment-friendly products.

A focus on China and direct-to-consumer digital business are also going to be priorities for the company, Coty said in a release.

Related Articles

Coty Hits Highest in a Year After Reiterating Guidance, Focus On Growing User Base

GM commits to doubling ad spending with Black-owned media

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.35%