Coty Sees Strong Q3 Performance Driven by Fragrance Success

Coty Inc. reported a robust performance in the third quarter, with an 8% rise in net revenues to $1.38 billion, driven by strong sales in both prestige and consumer beauty segments. Key contributors included the Burberry Goddess fragrance and new launches like Marc Jacobs Daisy Wild and Cosmic Kylie Jenner, leading to notable growth in the U.S. fragrance market. Despite net income dropping to $500,000 due to a previous year's one-time benefit, Coty's newly introduced Infiniment Coty Paris line has exceeded expectations, particularly at Liberty London. Additionally, the company updated its full-year revenue and earnings forecasts to the higher end of its previous guidance.

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