Trending: L'Oreal Reports Higher Sales Despite Fears of Market Slowdown

Dow Jones04-19

0946 GMT - L'Oreal is among the most mentioned companies across news items over the past 12 hours, according to Factiva data after it posted an increase in first-quarter revenue, shrugging off fears of a slowdown in the beauty market. The French cosmetics giant booked sales of EUR11.24 billion for the first quarter, up 8.3% in reported terms compared with the prior-year period. The increase offers hope, especially after the company posted results for 2023 as a whole that missed analysts' forecasts in a year marked by geopolitical tensions, inflation and a stagnating beauty market in China. Still, Chief Executive Nicolas Hieronimus said he is optimistic on the outlook of the global beauty market and expects L'Oreal to keep outperforming the market. "Amid a noisy few weeks on beauty with fears of a market slowdown, this result should drive a strong positive share reaction," Jefferies analysts say in a note to clients. L'Oreal shares trade 4.6% higher at EUR442.95. Dow Jones & Co. owns Factiva. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

April 19, 2024 05:47 ET (09:47 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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