L'Oréal fails to reach expectations | RetailDetail

L'Oréal fails to reach expectations

L'Oréal fails to reach expectations

Cosmetics firm L'Oréal has not reached analysts' expectations in the second quarter of 2014, mainly because of a lower demand in the United States.

North American drop

L'Oréal's like-for-like turnover grew 4.1 % in its second quarter, slightly lower than what analysts had expected (+ 4.4 %). Total turnover increases were relatively stable, at 0.7 %, reaching 5.536 billion euro.

 

Western European turnover grew 2.9 % (2.8 % on a like-for-like basis), while North American turnover dropped 3.3 %, despite a 2.4 % like-for-like turnover increase.

 

L'Oréal expects full-year turnover growth to exceed expectations, with a 3.5 to 4 % growth, similar to the entire cosmetics branch as a whole. The company has already spent more than 3.5 billion euro in acquisitions this year, among which an 8 % share buy-back from Swiss Nestlé.

Questions or comments? Please feel free to contact the editors


P&G wants 100 % recyclable packaging by 2030

17/04/2018

Procter & Gamble has announced new sustainability targets for 2030, as it has already – for the largest part – reached its 2020 targets. One of its goals is to make sure that all packaging is recyclable or reusable.

Zalando launches beauty product sales

23/03/2018

Zalando launched its beauty product range in Germany today, which it announced in October. Markets outside of Germany will follow later.

CK Hutchison owner steps down

19/03/2018

Li Ka-shing, CK Hutchinson’s owner and CEO, will step aside mid-May. The 89-year old will then pass on the baton to his eldest son, Victor Li, who will then take control of chains like Kruidvat and ICI Paris XL.

Europe wants global ban on animal testing for cosmetics

27/02/2018

Several Members of the European Parliament say the current European ban on animal testing for cosmetic purposes needs to be extended to a global one.

Unilever warns online media: we can no longer advertize like this

12/02/2018

Unilever has threatened to pull its advertising budget from online media channels that lack transparency and create discord according to marketing director Keith Weed’s statements at the IAB advertisers’ congress.

Luxury brands spur on L’Oréal's profit

09/02/2018

Despite weak turnover growth in 2017, cosmetics company L’Oréal still generated a much-improved net profit thanks to excellent luxury sales, where its margins are bigger.