Bloomberg Cosmetics maker Coty Inc reported worse-than-expected results in its fourth quarter, posting a $1.2 billion drop in sales year on year as consumers stuck at home during the pandemic skipped beauty-product purchases. Sales of $922.1 million in the company’s fiscal fourth quarter were down 56% year on year and worse than analysts’ estimate of $1.34 billion. After a brutal …

Bloomberg Gap Inc tempered the pace of its sales decline in the second quarter, outpacing analysts’ estimates by picking up e-commerce customers. Sales for the period, which ended on August 1, fell 18% from a year earlier to $3.3 billion, higher than analysts’ projection of $2.9 billion. The company, which owns the Old Navy and Banana Republic brands, increased comparable-store …

Bloomberg Centricus Asset Management Ltd. and Triller Inc. are seeking to buy TikTok’s operations in the US and several other countries from ByteDance Ltd. for $20 billion, according to a person familiar with the matter. Investors led by London-based Centricus will partner with US-based Triller, another video and music-based social networking app, which would have a minority stake in a …