L'Oreal 1Q Sales Were in Line With Expectations; China Picked Up -- Earnings Review
17 Avril 2020 - 12:54PM
Dow Jones News
By Giulia Petroni
L'Oreal SA reported on Thursday sales for the first quarter of
2020. Here's what you need to know.
SALES: The French cosmetics and consumer-products company
reported sales at 7.22 billion euros ($7.89 billion) compared with
EUR7.55 billion for the same period in a year earlier. On a
like-for-like basis, sales decreased 4.8%. The company previously
said it expected a 5% decline.
WHAT WE WATCHED:
-DIVISIONS: At a divisional level, the professional products
business registered the worst performance with a 10.5% decline,
like-for like. Luxe and consumer products followed, with a 9.3% and
3.6% decline, respectively. Active cosmetics instead delivered
growth of 13%.
-CHINA: In spite of the lockdown impact on sales in February,
the region registered 6.4% sales growth on a like-for-like basis in
the first quarter. Management said China experienced a quick bounce
back and is expected to have growth of between 5% and 10% in April,
reaching a strong double-digit sales growth in the second
quarter.
-E-COMMERCE: The internet became a significant distribution
channel and growth driver amid the pandemic, limiting the impact of
store closures. According to the company, it grew 53% and currently
represents about 20% of sales.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 17, 2020 06:39 ET (10:39 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
LOreal (EU:OR)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
LOreal (EU:OR)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
