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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