Coty up after report CoverGirl parent explores sale

Shares of CoverGirl parent Coty COTY.N up ~7% at $5.05 in afternoon trading

Co is exploring potential sales of its luxury and consumer divisions separately, fashion trade publication WWD reports, citing sources familiar with the matter

Co is in talks with Interparfums for its luxury business, which includes brands such as Hugo Boss and Burberry, report says

Potential deal for COTY's fragrance business could come in the form of a strategic partnership or merger vs an outright acquisition

Sticking point would be whether the group could find a buyer for its consumer division, which grapples with challenges like stiff competition, report says

Coty did not immediately respond to Reuters request for comment

Including session's moves, stock down about 26% YTD