×
30 178
Fashion Jobs
L'OREAL GROUP
Manager - Brand Supply Management
Permanent · Clark
L'OREAL GROUP
Analyst-Finance
Permanent · Clark
TJ MAXX
70118-lp Detective
Permanent · Bloomfield Hills
HOMEGOODS
Loss Prevention Customer Service Associate
Permanent · Edina
TJ MAXX
70118-lp Detective
Permanent · Farmington Hills
MARSHALLS
Loss Prevention Detective
Permanent · Lynnwood
ROSS STORES
Store Protection Specialist
Permanent · Fresno
ROSS STORES
Store Protection Specialist
Permanent · Aiea
ROSS STORES
Store Protection Specialist
Permanent · Miami
ROSS STORES
Store Protection Specialist
Permanent · Kaneohe
FOOT LOCKER
Regional Loss Prevention Investigator
Permanent · Chicago
NORDSTROM INC
Operations Manager - 2nd Shift - Gainesville, fl
Permanent · Gainesville
NORDSTROM INC
Area Manager - 2nd Shift - Gainesville, fl
Permanent · Gainesville
NORDSTROM
Loss Prevention Security Ambassador Baton Rouge Mall Rack
Permanent · Baton Rouge
NORDSTROM INC
Asset Protection Manager - st. Johns Town Center
Permanent · Jacksonville
NORDSTROM
Loss Prevention Security Ambassador
Permanent · Birmingham
NORDSTROM
Asset Protection Security Ambassador 1 Portland Rack
Permanent · Portland
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Bloomingdale
KOHLS
Senior Specialist Compliance Assessments
Permanent · Menomonee Falls
TAPESTRY
Manager, Site Operations
Permanent · New York
TAPESTRY
Manager, Omni Operations
Permanent · New York
L'OREAL GROUP
sr Mgr - Business Intelligence (Pro Brands)
Permanent · New York
By
Reuters API
Published
Jul 31, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

L'Oreal hurt by weaker make-up demand in North America

By
Reuters API
Published
Jul 31, 2019

L’Oreal 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.


L’Oreal reported a 9.8% sales increase on a reported basis to 7.26 billion euros ($8.1 billion) for the second quarter - L'Oreal


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 cosmetics, including pricey L’Oreal ranges like Lancome and labels such as La Mer sold by rival Estee Lauder.

L’Oreal Chairman and Chief Executive Jean-Paul Agon told analysts on Wednesday that demand in China had, if anything, picked-up in the second quarter from the first.

But he also flagged a weak outlook in North America for the rest of the year, after a bumpy start to 2019.

“In the United States the market has decelerated in make-up, where we are market leader,” Agon said.

Agon adding that the group had “strong initiatives” in the United States for the second half of 2019, especially in luxury brands, but that the market would likely remain soft.

L'Oreal's shares were among the worst performers on Paris' SBF 120 index of French companies.

© Thomson Reuters 2021 All rights reserved.