Estee Lauder's Weak Guidance Highlights Coty's Fragrance Strength Ahead of Holiday Shopping Season

Estee Lauder's horrible guidance showcases differences between its business and Coty's, and why we are long Coty and its Fragrance business.

While Estee struggles with its Asia travel business and impact on Skincare, its Fragrance results add support for owning COTY shares.

COTY shares may flirt with our $9 panic point but we want the Fragrance business, especially heading into holiday shopping.

Estee called out US strength, notably in Coty's wheelhouse of fragrance and cosmetics.

Next catalysts are e.l.f Beauty's earnings, for insight into the US beauty market which is 30% of Coty's revenue.