Coty updates FY sales outlook

Coty has upped its fiscal 2023 guidance based on its third-quarter sales growth.

The US beauty giant said Thursday its core Q3 like-for-like sales growth is tracking at 10 percent, reflecting an acceleration from the 7 percent like-for-like growth it saw in the second quarter.

Based on those numbers, the company now expects FY23 core like-for-like sales growth to be at the upper end of its prior guidance of between 6 percent and 8 percent.