Coty impresses with 8% YoY sales growth in Q3 FY24, outpacing estimates. Robust performance driven by strong sales across all regions, with a notable 10% LFL revenue increase. Prestige and Consumer Beauty segments both show solid gains, contributing to overall growth.
The stock market is poised to mark a third consecutive session of gains, with major indices all trading in the green during midday trading in New York on Monday, as traders continue to react positively to quarterly earnings and the Federal Reserve’s unexpectedly dovish stance
U.S. stocks are likely to extend their gains as major index futures are modestly higher on Monday. Strong earnings reports continue to support the market, with S&P 500 earnings expected to grow by 5% year-over-year — the highest rate since Q2 2022.
Ulta Beauty executives reportedly cautioned about a deceleration in demand across categories in the first quarter. The news also dragged down peers E.L.F. Beauty, Coty and Estee Lauder.