The present disclosure relates to stable cosmetic compositions that include high levels of free glycolic acid. The cosmetic compositions typically include: glycolic acid and/or a salt thereof; at least one non-silicone fatty compound; at least one emulsifier; at least one water-soluble solvent; at least one silicone; and water. The cosmetic compositions are in the form of an emulsion, in particular, a water-in-oil emulsion, and typically have a low pH of below 7. Also, the cosmetic compositions have high amount of free glycolic acid, for example, at least 6 wt. % of free glycolic acid, based on the total weight of the cosmetic composition. The cosmetic compositions are particularly useful for improving the appearance of skin. Accordingly, the instant disclosure relates to methods of treating skin, for example, improving the appearance of skin using the cosmetic compositions.