L’Oréal SA recorded several sales records in its year-end earnings presentation, including its biggest sales increase in the Consumer Products business in more than 30 years, but ongoing weakness in travel retail and in China dragged sales lower than analysts’ estimates for the fourth quarter.
L’Oréal Sets Sales Records In 2023, But Q4 China Impact Rattles Investors
Fourth quarter sales grew 6.9% on a like-for-like basis to €10.6bn, two points less than analysts had expected, due to continued disruption in travel retail and troubles in China. L’Oreal’s stock price slipped 7% the day it reported results.
More from Earnings
• By
Coty Inc. reports fiscal second quarter sales slipped 3% on a reported basis to $1.67bn, reflecting further slowing of the mass beauty market, particularly color cosmetics.
• By
L’Oréal Groupe expects total sales in 2025 to beat 4%-4.5% growth anticipated for the overall beauty market, with US population growth, planned innovations boding well across its beauty businesses.
• By
Cincinnati-based P&G reports its antiperspirants/deodorants business is a ‘pocket of strength,’ growing 11% in the US in the fiscal second quarter and helping lift overall beauty sales as skin care stumbles.
New York-based International Flavors & Fragrances, Inc.’s Scent division is undertaking R&D in natural, synthetic chemistry and biotech molecules, says CEO Erik Fyrwald during a third quarter earnings presentation 6 November.
More from Business
• By
Estee Lauder Companies collaborates with Serpin Pharma to explore anti-inflammatory innovation and skin longevity, while L’Oréal Group celebrates the grand opening of North America Research & Innovation Center with ribbon cutting event.
• By
K-beauty (Korean beauty)’s success in US e-commerce in 2024 was independent of overall US market beauty growth, surging 63% year-over-year on average, according to Samsung Securities.
• By
British consumer goods firm Unilever PLC announces it will replace CEO Hein Schumacher with CFO and Executive Director Fernando Fernandez 1 March.