L'Oreal Shares Rise Following Higher Sales
By Nina Kienle
L'Oreal shares rose on Friday after the French Cosmetics giant posted higher sales for its first quarter late Thursday.
At 0747 GMT, shares rose 4.8% at EUR444.10.
L'Oreal reported sales of 11.24 billion euros ($11.96 billion) for the three months to the end of March, rising 8.3% in reported terms and 9.4% on a like-for-like basis. The figure was boosted by growth in its core consumer-products and dermatological-beauty divisions, particularly in Europe and North America.
Sales in Europe rose more than 12% in reported terms to EUR3.73 billion.
"The West continues to power on, with Europe 500 basis points ahead of consensus expectations and solidly double-digit," Jefferies analysts Molly Wylenzek and David Hayes said in a note to clients.
Chief Executive Nicolas Hieronimus expects that L'Oreal will keep outperforming the market and achieve another year of growth in sales and profit.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
April 19, 2024 04:08 ET (08:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Markets Brief: Tech Stocks Lead Ahead of Nvidia Earnings
-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing