Coty Inc Stock Price, News & Analysis

Coty Inc. (NYSE: COTY), a global beauty leader, announces a partnership with tech innovator Spatial to launch an internal metaverse, Coty Campus, designed to enhance the skills of its 11,000 employees. This groundbreaking initiative utilizes advanced 3D technology to foster innovation across Coty's diverse portfolio of brands. Chief Digital Officer Jean-Denis Mariani emphasized the company's commitment to digital leadership and innovation. The Coty Campus is set to introduce interactive tools for collaboration, enabling gamified experiences for engaging global teamwork. Scheduled for release this fall, this project is a significant step in Coty's ongoing digitalization strategy, promoting skill enhancement for its workforce.

Coty Inc. (NYSE: COTY) has announced the reintroduction of its philosophy brand, highlighting a new formulation principle called dermatologic wisdom™ and the launch of the dose of wisdom™ bouncy skin reactivating serum. This serum aims to enhance skin hydration and collagen support. Additionally, philosophy has received approval from the Cruelty Free International Leaping Bunny Programme, confirming its commitment to cruelty-free practices. This move aligns with Coty’s strategy to leverage its skincare expertise and innovation to enhance consumer trust and brand loyalty.

Coty Inc. (NYSE: COTY) announced the launch of its new fragrance, Gucci Eau de Parfum, Where My Heart Beats, set to be available on April 1, 2023. This fragrance is a significant achievement as it will be the first globally distributed scent made from 100% recycled carbon emissions, utilizing innovative CarbonSmart™ alcohol developed in partnership with LanzaTech. This technology recycles carbon from industrial emissions, promoting sustainability in the beauty industry. Coty aims to reduce its environmental impact while delivering luxurious fragrances, marking a milestone in its Beauty That Lasts sustainability strategy.

Coty (NYSE: COTY) has appointed Caroline Andreotti as its new Chief Commercial Officer (CCO) for Prestige, effective April 1, following Isabelle Bonfanti's departure after 2.5 years in the role. Caroline, who has over 20 years of experience in the beauty industry, including 15 years at Coty, will spearhead Coty’s global Commercial prestige strategy. Her previous successes include leading Coty's growth in the Asian market and overseeing the launch of successful products in travel retail. CEO Sue Y. Nabi praised Caroline's track record and expertise, particularly in the Asian beauty sector.

Coty (NYSE: COTY) announced that CFO Laurent Mercier will present at the 2023 Bank of America Consumer & Retail Conference on March 15 at 8:00 A.M. EST. The company reported a fiscal Q3 core like-for-like sales growth of +10%, up from +7% in Q2. As a result, Coty expects FY23 core LFL sales growth to reach the upper end of its previous forecast of 6-8%. The company reiterated its FY23 outlook, including guidance on adjusted gross margin, EBITDA, and EPS, while planning to reinvest profits into skincare initiatives and recent product launches.

Coty Inc. (NYSE: COTY) has partnered with UNICEF to expand the 'Light the Way' campaign on International Women’s Day, focusing on empowering girls through the Skills4Girls program over the next two years. This initiative aims to provide resources and training in STEM, digital technologies, and life skills to unlock the potential of 11.5 million girls across 30 countries. Research indicates that investing in girls’ education can yield a return of $2.80 for every dollar spent, significantly benefitting economies. Max Factor, under Coty, is committed to fostering empowerment and inclusivity through this partnership.

Coty Inc. (NYSE: COTY) has launched a limited-edition Sally Hansen Insta-Dri® X PEEPS® Collection featuring seven nail polish shades inspired by the popular PEEPS® marshmallow treats.

Available for $5.99 each, the collection boasts unique 'sugar texture' finishes and quick-dry technology. The release follows the success of their previous partnership, aiming to delight consumers this Spring.

The collection is now available across various retail platforms, starting from February 2023, as the company continues to expand its innovative beauty offerings.

Coty (NYSE: COTY) is set to present at the 2023 Consumer Analyst Group of New York Conference on February 21, 2023, at 1:00 P.M. EST. CEO Sue Y. Nabi and CFO Laurent Mercier will discuss the beauty market, recent skincare investments, and growth opportunities. Coty reports an acceleration in fiscal Q3 core like-for-like (LFL) sales growth to over 7% and reaffirms its FY23 outlook, including adjusted EBITDA and EPS guidance. The company plans to reinvest profits into skincare initiatives while outlining financial goals for FY26 and beyond.

Coty Inc. (NYSE: COTY) reported Q2 FY23 results with sales growth exceeding guidance, despite industry constraints impacting fragrance components. Q2 revenues decreased 3% due to foreign exchange headwinds, with a 4% rise in like-for-like (LFL) sales. The exit from Russia negatively affected sales by about 300 bps. Gross margins expanded by 110 bps to 65.5%, while reported operating income was $199.3 million. The company expects FY23 adjusted EBITDA of $955-965 million, with adjusted EPS growth projected over 20%. Coty aims to achieve 3x leverage by the end of CY23 and has identified $90 million in savings for FY24.