Coty Inc. is feeling the pinch of an abrupt slowdown in nail color and fragrances, its two key categories.
Michele Scannavini, the beauty firm’s chief executive officer, told analysts during the company’s earning call on Thursday that he sees the sales weakness as “short term,” and that he expects Coty to return to top-line growth in line with or better than the markets where it competes in the second half. He cited the company’s investment in emerging markets and a robust pipeline of products tailored for these markets, including Adidas shampoo in China and fragrances tailored for the Middle East, as well as new innovation across key brands, such as Calvin Klein and Sally Hansen, as upcoming growth drivers.
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