“We are therefore determined to outperform the market, find again the path to growth if the sanitary conditions allow it.'
PARIS — L’Oréal’s second-quarter sales missed financial analysts’ estimates, as the world’s largest beauty company’s business was buffeted by the coronavirus pandemic.
Another analyst said L’Oréal is “relatively overweight in makeup, which does not help, but a flat-ex makeup performance [as stated by the group] is not that impressive in light of what Unilever and P&G have been reporting.” “We were a bit worried about a softness since mid-June after a catch-up effect just after the end of lockdowns [in Europe and the USA],” wrote ODDO’s Tegner. “At the end of Q2, U.S., Germany and China are back to growth.”
“The consumption of beauty products over the period was strongly impacted by the closure of millions of points of sale — hair salons, perfumeries, department stores, airport stores, etc. — which caused a real crisis of supply, rather than demand, with consumers temporarily unable to purchase products and services,” he said.
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