BUZZ-Coty falls after cutting annual profit forecast

U.S.-listed shares of CoverGirl parent Coty COTY.N fall 4% to $6.5 after the bell

Company cuts annual profit forecast on slowing demand for its cosmetics in the U.S. and tight inventory management by retailers and department stores

COTY expects FY25 adjusted per-share profit to be between 50 cents and 52 cents, compared with its prior forecast of profit at the low end of 54 cents to 57 cents

"Given the complex retail demand environment, Coty now assumes a broadly similar market environment entering FY26," company says

Q2 net revenue down at $1.67 billion, compared with analysts' average estimate of $1.72 billion, according to data compiled by LSEG

Shares had fallen nearly 44% in 2024