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Coty Expects Sales Growth To Weaken Q1

Beauty products and fragrances maker, Coty Inc. (NYSE: COTY) reported its first quarterly results after becoming a publicly traded company on Tuesday. Earnings topped analysts’ expectation as the bottom line was bolstered by higher sales of branded perfumes such as Chloe and Marc Jacobs in Asia. However, shares edged lower. The Company expects revenue in the current quarter will fall marginally due to weakening market growth in Europe and the U.S. Overall revenue in the fiscal fourth quarter rose 3.9% to $1.06 billion, driven by 11% sales growth in Asia.

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