L’Oreal shares are performing surprisingly well
L’Oreal’s shares showed a significant 5% increase on Friday, which is due to the company’s first quarter sales results, which exceeded market expectations. That growth reassured investors who had been worried about a possible slowdown in the United States, Reuters reported.
The strong performance was particularly significant given earlier concerns about a slowdown in the US market. L’Oreal shares hit that level at 07:45 GMT, the biggest gain since January 2023. At the same time, since the beginning of the year, the value of shares has decreased by 6% overall. The world’s largest beauty company, L’Oreal, reported a turnover increase of more than 12% in North America and Europe. The main drivers of growth were mass market products and dermatology offerings, which offset the decline in the luxury segment.
Analysts at Barclays called L’Oreal’s first-quarter results a “rock-solid quarter”, noting that while the company acknowledged the slowdown in the US market, it still positively surprised analysts with results in both the US and Europe.
The strong performance of L’Oreal’s stock has benefited not only the company, but other beauty companies as well. Estee Lauder’s shares also rose about 5%, while Coty rose 3%.
Related news
Shares in Carlsberg plunged after Britvic rejected a takeover bid
Shares in Carlsberg suffered their biggest one-day fall in more…
Read more >Russia’s Magnit To Buy Back Around 21.5% Of Shares From Western Investors
Russian retailer Magnit said it plans to buy back approximately…
Read more >AVON: two-thirds of women prefer more natural make-up
The range of factors influencing women’s beauty care decisions is…
Read more >Related news
Large companies are resistant to economic uncertainty
Restrained expectations characterize the domestic corporate sector for the next…
Read more >Company trend in 2024: a more positive half-year, but still a negative message
The lowest number of companies in the last five years…
Read more >The Hungarian Marketing Association for the supply of the profession
The Hungarian Marketing Association is actively working for the future…
Read more >