Coty Stock is on the Comeback Trail
Key Points Coty sells premium fragrances and beauty products worldwide.A revenue drop of (3%) was driven by (7%) FX headwinds in fiscal Q2 2023.Coty experienced gross margin expansion by 110 bps YoY to 65.5%.Coty raises fiscal full-year 2023 EPS and adjusted EBITDA growth for fiscal 2024.China’s re-opening, prestige makeup, skincare, and travel retail are early-stage growth drivers.Coty Shares trade at 31X forward earnings with a 4.7% short interest.5 stocks we like better than CotyBeauty, fragrance, cosmetics and skincare have been resilient industries throughout the pandemic but turned red h...