Colour sales down for Coty

The US beauty giant has been hit by weaker demand for colour cosmetics

Weaker demand for Coty’s nail colour and fragrance range has seen the company take a 2.9% clip in US quarterly sales to $1.18bn.

The sales weakness is claimed, by Coty CEO Michele Scannavini, to be temporary and better growth is expected for the second quarter. Coty’s colour cosmetics business slipped 10% in the last quarter on a like-for-like basis, down to $311.5m; fragrance, skin and body care revenues stayed more or less flat at $704.5m and $162.2m respectively.

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