Estee Lauder Cos Inc raised its 2019 forecast for profit and sales on Wednesday after beating Wall Street expectations for third-quarter results on booming demand for luxury beauty products in China.
Brazilian cosmetics maker Natura Cosmeticos SA and beauty products firm Avon Products Inc on Friday said that they were in deal talks but offered no details.
Avon Products Inc's quarterly revenue missed analysts' estimates on Thursday, hurt by a fall in the number of its sales representatives and a dip in demand for products in Latin American markets, sending its shares down as much as 19 percent.
Cosmetics and perfume maker Coty Inc said on Friday it expected to post a profit in the second half of fiscal 2019 as it reported holiday-quarter revenue and adjusted earnings that beat Wall Street estimates, sending its shares up 29 percent.
Estée Lauder Cos Inc raised its annual profit forecast after posting quarterly results that topped estimates on Tuesday driven by strong growth in China and higher demand for luxury skincare, sending shares up 15.3 percent to a seven-month high.
Kohl's Corp shares slumped as much as 12 percent on Tuesday after the department store operator forecast full-year earnings largely below estimates, blaming rising shipping costs and higher discounts during the holiday season.
Coty Inc replaced its chief executive officer and chairman on Monday, days after the cosmetics giant rattled investors by warning that fiscal-year performance could be hurt by supply chain issues.
Coty Inc shares slumped 22 percent on Wednesday as the CoverGirl cosmetics maker faced unprecedented supply chain disruptions in the United States and Europe that led to a steeper-than-expected drop in its first quarter sales.
Estée Lauder Cos Inc joined rival L'Oreal SA in dismissing fears of a slowdown in China on Wednesday as its quarterly results beat Wall Street estimates on booming demand for cosmetics and high-end skincare products.
Coty Inc fell short of quarterly sales forecasts for the first time in six quarters on Tuesday due to a 10-day long trucker strike in Brazil that disrupted supplies to retailers in May and June.