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Coty Raises Profit Forecast on Resilient Demand, Price Hikes

The company’s shares rose about 4 percent to $10.80 in premarket trading after also beating expectations for second-quarter revenue and profit.
Coty agreed to buy a majority stake in Kylie Cosmetics in November 2019.
Coty raised its full-year profit forecast, betting that demand for small luxuries such as lipstick and fragrance will hold. (Coty)

Coty Inc raised full-year profit forecast on Wednesday, betting on price hikes and resilient demand for its fragrances and cosmetics even as inflation pinches consumer wallets.

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