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Coty Stock Retreats as Q1 Results Miss Expectations

Coty (COTY) reported weaker-than-expected results for the 2017 fiscal first quarter on Wednesday. Revenue was hurt by a slide in demand across its segments, including fragrances, color cosmetics and skin and body care.

Shares were down 5.44% to $20.70 in pre-market trading today.

The New York-based beauty products company posted adjusted earnings of 23 cents per diluted share, below analysts' estimates of 33 cents per share.

Revenue dropped 3% to $1.08 billion year-over-year and was lower than Wall Street's estimates of $1.14...