Coty slips after annual profit forecast cut on tariff woes

Shares of skincare and perfume maker Coty COTY.N down 6.6% at $4.83 in early trading

Company trims fiscal 2025 profit forecast hit by macroeconomic and tariff uncertainty

Says based on current anticipated tariffs, expect gross headwind in low $100 million level, with impact to be felt in fiscal year 2026

Projects 2025 per-share profit between 49 and 50 cents, compared with prior forecast of 50 to 52 cents

We are absorbing triple-headwind of a slowing fragrance market, lapping a blockbuster innovation year, and depleting elevated retailer inventory, particularly in the U.S. - COTY

Also postpones its investor day by at least a few months

"The biggest frustration is that management sounded confident about the sustainability of growth not too long ago" - J.P. Morgan analyst

Stock down 26% so far this year, as of last close