RTTNews | May 10, 2021 08:39AM EDT

08:38 Monday, May 10, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Monday, Coty Inc. (COTY) maintained its net revenue guidance for the full-year 2021

For fiscal 2021, the company continues to project net revenue between $4.5 billion and $4.6 billion. On average, ten analysts polled by Thomson Reuters expect the company to report revenues of $4.57 billion for the year.

With strengthened profitability, the Company said expects to increase commercial investments in fourth quarter to support its strategic priorities and the improvement of sell-out trends, as the broader beauty market begins to recover.

It added that these investments will be supported by the continued reduction of costs, with cost reductions on track to reach approximately $300 million in fiscal 2021 and total targeted savings of $600 million through fiscal 2023.

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