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Stock impact report

L'Oreal Bounces Back as Europe, North America Offset Weak China [BNN Bloomberg (Canada)]

Estee Lauder Companies, Inc. (The) (EL) 
Last estee lauder companies, inc. (the) earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: elcompanies.com/investors
Company Research Source: BNN Bloomberg
The French cosmetics group, which owns Lancome, said Thursday that like-for-like sales rose 9.4% in the first quarter, helped by strong demand for its mainstream consumer and dermatological products. The uplift was well ahead of analysts' expectations of a 6.6% rise. Revenue from North Asia, which includes China and South Korea, also held up better than feared, with comparable sales down 1.1%, which was less than the expected 2.4% drop. L'Oreal's American depositary receipts surged 8.3%, while shares of rival Estee Lauder Cos. gained as much as 6.2% in New York trading. L'Oreal Chief Executive Officer Nicolas Hieronimus said 2024 was off to a “very good start,” citing double-digit growth in Europe and a “gradual recovery” in North Asia. Comparable sales in L'Oreal's dermatological beauty unit, which includes labels such as La Roche-Posay and has been the main driver of growth recently, grew by nearly 22%, topping analyst estimates. The quarterly sales figure included a “pha Show less Read more
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