L'Oreal's Start to the Year Seems Encouraging -- Market Talk

Dow Jones04-19

1007 GMT - L'Oreal's first-quarter print seems strong, despite the persistently challenging market environment in China, AlphaValue analyst Jie Zhang writes in a research note. The French cosmetics giant reported sales of EUR11.24 billion for the first quarter, up 8.3% in reported terms compared with the prior-year period. All the regions showed double-digit growth except for North Asia, due to a sluggish beauty market in mainland China, as the country grapples with domestic economic woes. "The encouraging start to the year increases our confidence for the year ahead," the analyst says, adding that the company looks set to benefit from its unrivalled leadership in the dermo-cosmetics market. Shares are up 4.6% at EUR443.15. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 19, 2024 06:07 ET (10:07 GMT)

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All the regions showed double-digit growth except for North Asia, due to a sluggish beauty market in mainland China, as the country grapples with domestic economic woes. \"The encouraging start to the year increases our confidence for the year ahead,\" the analyst says, adding that the company looks set to benefit from its unrivalled leadership in the dermo-cosmetics market. Shares are up 4.6% at EUR443.15. 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