L’Oréal Stock Rises 6.7% on Strong Results30/10/2019
PARIS — L’Oréal stock jumped on Wednesday morning, following the publication of strong third-quarter sales after the market close on Tuesday.
The world’s largest beauty maker saw its share price climb 6.7 percent to 261.00 euros by 11:25 a.m. CET.
As reported, the maker of Lancôme, Garnier and Maybelline products said its sales in the three months ended Sept. 30 came to 7.18 billion euros, up 11 percent in reported terms and 7.8 percent on a like-for-like basis.
Financial analysts had a consensus forecast for a 6.2 percent sales gain in constant terms.
“L’Oréal’s beauty is that growth in the global beauty market has shifted to categories and channels that are accretive to margins and where, in our view, L’Oréal has advantaged business models: e-commerce, skin care and travel retail,” Javier Escalante, an analyst at Evercore ISI, wrote in a research note.
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