The reopening of borders to foreign travelers as the United States did could fuel sales at duty-free stores, and Coty is counting on that
forecast annual earnings largely above estimates on Monday, as the cosmetics maker benefits from cost cuts to ward off inflation impacts and a revival in demand for its products at airport duty-free stores.
Coty, which is grappling with industry-wide supply-chain bottlenecks, said it is managing cost pressures through high-end product launches, price increases, fixed cost cuts and freight under contract. The company has benefited from its investments in advertising, launch of the fragrances Gucci Flora Gorgeous Gardenia and Burberry Hero and its efforts to rebuild its CoverGirl and Max Factor brands through marketing.
Rimmel cosmetics owned by Coty Brands are shown for sale in a retail store in Encinitas, California, U.S., November 8, 2017. REUTERS/Mike Blake
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