Coty Inc. shares jumped after the beauty company reiterated its forecast for like-for-like sales to recover in the second half of its fiscal year and said business in the current quarter will be stronger than in the prior three months.

The stock, which fell 46% this year through Wednesday’s close, driven by revenue drops over several quarters, gained as much as 13% after the bell.

The New York-based beauty company, whose portfolio includes CoverGirl , Gucci Beauty, Burberry , and Kylie Cosmetics by Kylie Jenner, said like-for-like sales, which measures revenue from existing business units, declined 8% in the fiscal first quarter. In August it forecast a drop of 6% to 8%.

Coty said it expects quarter-on-quarter improvements in its prestige and consumer beauty segment in the curr

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