Coty shares surged as much as 18 percent Tuesday, and have catapulted more than 50 percent in the past three trading days after posting quarterly sales gains last week that were lifted by a licensing deal with Burberry Group Plc.
Coty is rebounding under new Chief Executive Officer Pierre Laubies after a difficult few years.
Last fall, it spooked Wall Street with a slew of supply chain disruptions, including a hurricane that forced the shutdown of a manufacturing plant and warehouse in North Carolina.
Coty’s quarterly results saw luxury outpace mass-market names, and were particularly strong on its deal with Burberry. Coty licenses perfumes and cosmetics with more than a dozen European brands.
JAB said Coty’s recent management changes are “an important first step in addressing the company’s recent performance.” Jefferies’ Wissink said the new management seems “more realistic than prior execs on the time required to turn around the business.”
finance.yahoo.c...-135705044.html?.tsrc=rss
finance.yahoo.c...-150927402.html?.tsrc=rss
Coty is rebounding under new Chief Executive Officer Pierre Laubies after a difficult few years.
Last fall, it spooked Wall Street with a slew of supply chain disruptions, including a hurricane that forced the shutdown of a manufacturing plant and warehouse in North Carolina.
Coty’s quarterly results saw luxury outpace mass-market names, and were particularly strong on its deal with Burberry. Coty licenses perfumes and cosmetics with more than a dozen European brands.
JAB said Coty’s recent management changes are “an important first step in addressing the company’s recent performance.” Jefferies’ Wissink said the new management seems “more realistic than prior execs on the time required to turn around the business.”
finance.yahoo.c...-135705044.html?.tsrc=rss
finance.yahoo.c...-150927402.html?.tsrc=rss