Coty Inc.’s stock COTY jumped 4.6% in premarket trade Wednesday, after the beauty, cosmetics and fragrance giant raised guidance for fiscal 2024, boosted by strength in its prestige fragrance business. “Since providing its guidance on its FY23 earnings call four weeks ago, Coty has seen strong momentum in beauty demand across its key markets and categories, particularly in prestige fragrances,” the company said in a statement. It highlighted the recent launch of the company’s Burberry Goddess fragrance, which it said is setting records. Coty is now expecting first-half like-for-like (LFL) sales to rise 10% to 12%, up…
