NTCO - Why Natura &Co Stock Popped Today
Shares of Natura &Co (NYSE: NTCO) , the Brazilian cosmetics company that owns brands like Aesop, Avon, and The Body Shop, were gaining today on reports that it was considering an initial public offering (IPO) for Aesop or spinning off the luxury brand. As of 11:37 a.m. ET, the stock was up 14.8% on the news.
In a statement last night, the company said, "The IPO has been assessed over the last months as an alternative to fund the accelerated growth of Aesop, and Natura &Co's management has been taking the necessary steps to pursue such alternative."
Natura has struggled in recent quarters with flat revenue growth in constant currency in the second quarter. Also, its bottom-line result flipped to a loss at $49.5 million.
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Why Natura &Co Stock Popped Today