By  on November 9, 2017

Coty Inc. stock soared Thursday, rising almost 14 percent, to 16.80, after the beauty company beat Wall Street expectations.

Coty’s sales for the first fiscal quarter of 2018 were boosted by some of its acquisitions, including social selling business Younique and hair tools brand Ghd. While Coty’s Luxury and Professional segments posted significant gains, the Consumer Beauty division, which contains brands like Cover Girl and Rimmel, “is still not where it should be,” said Camillo Pane, Coty chief executive officer, in an interview. “I’m not happy about it, but we are starting to see signs of stabilizing the business,” Pane said.

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