Puig Beats Q3 Sales Forecasts on Strong Makeup Demand
Spanish beauty company Puig reported stronger than expected third quarter sales growth driven by robust demand for makeup. The solid performance helped offset softer skin care results and a broader cooldown in the sector.
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PUIG BRANDS SA-B posted third-quarter net revenue of €1.39 billion ($1.56 billion) on Wednesday, rising 5.6% like-for-like. The result topped the 5.0% growth projected by Jefferies. Strong demand for Charlotte Tilbury makeup countered softer skin care results for the Spain-based beauty group.
