UPDATE 1-L'Oreal shares fall after weaker make-up demand weighs on sales [Reuters]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
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Source: Reuters
L'Oreal shares fall after weaker make-up demand weighs on sales - Reuters 2 Min Read PARIS (Reuters) - L’Oreal ( OREP.PA ) shares slid lower on Wednesday after the French cosmetics maker reported weaker-than-expected sales growth in the second quarter, dragged down by a fall in North American revenues where demand for make-up is slowing. The beauty group, whose brands include high-end Armani cosmetics and more budget ones such as Garnier, posted a 6.8% rise in like-for-like sales across all regions in the period, missing expectations for growth of 7.4%. Its shares were down 3.5% at 0726 GMT. “L’Oreal trades on its top-line growth,” analysts at Bernstein said in a note, adding that revenue growth was still strong but had dipped below a quarterly pace of 7% for the first time in a year. “The worry is whether we are past the peak and if growth will ‘normalize’ from here.” The company is still thriving in key markets like China, where consumers have shown a growing appetite for high-end
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