By Kuldip K. Ambastha and Anil K. Ambastha
On Wednesday, February 5, 2020, the stock of Coty Inc. (COTY) rose by 14.5% for the day. This beauty-focused company had quarterly earning (27 cents per share) and revenue ($2.35 billion) figures which beat consensus expectations. Coty Inc. has been implementing a turnaround plan in recent quarters and the plan has been delivering positive outcomes. Strength was seen in the company’s Burberry, Gucci, Tiffany, Lacoste, and Hugo Boss brands. Coty Inc. owns a wide variety of brands, including Alexander McQueen, Calvin Klein, Chloé, and Katy Perry Perfumes. The company’s free cash flow is up $170 million on a year-over-year basis. In summary, Coty had shown great results in its most recent quarterly figures.
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Disclosure – The principals and clients of Ambastha Financial LLC do not have any positions in COTY.
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