Coty Inc. raised its full-year sales outlook because the fragrance effect shows no sign of slowing.

The wonder company, which holds the fragrance licenses for myriad brands comparable to Gucci and Hugo Boss, said that within the 4 weeks because it released its latest quarterly earnings it has seen strong momentum in beauty demand across key markets and categories, particularly in prestige fragrances as Burberry Goddess sets latest market records.

Consequently, Coty is now expecting core like-for-like sales growth of between 8 percent and 10 percent for fiscal 2024, up from its earlier guidance of 6 percent to eight percent.

At the identical time, Coty lifted its adjusted EBITDA forecast to between about $1.08 billion and $1.09 billion, from a variety of $1.07 billion to $1.08 billion in its prior guidance. 

Nevertheless, the corporate made no changes to its EPS forecast, which is anticipated to hit a variety of between 44 cents and 47 cents, below Wall Street estimates of 48 cents.

Nevertheless, Coty’s stock price was up 5.4 percent to $12.09 in mid-morning trading on Wednesday.

Sue Nabi, chief executive officer of Coty, said: “Having spent the past three years strengthening Coty’s fundamentals and elevating Coty’s organizational capabilities across our categories, we enter the following phase of growth with best-in-class innovation and marketing power.”

Particularly, Olivia Tong, an equities analyst at Raymond James, sees strong potential as the vacation season approaches. 

“With supply constraints having now recovered and fill rates back within the mid- to high-90s, Coty may now return to gift sets heading into holiday, a positive vs last 12 months,” she said. “We maintain our ‘Outperform’ rating and $15 price goal on Coty driven by sustained opportunity in fragrance and whitespace opportunity in makeup and skincare.”

The news comes as reports proceed to flow into that each Kim Kardashian and Kylie Jenner need to regain full ownership of their brands back from Coty. The group paid $600 million for a 51 percent stake in Kylie Cosmetics in 2020 and purchased a 20 percent stake in Kardashian’s beauty business, then called KKW Beauty, for $200 million in 2021, implying that the brand was valued at $1 billion on the time.