First-quarter sales in three of L’Oreal’s four businesses surpassed levels before the Covid-1p epidemic and tracked down the world’s largest cosmetic manufacturer to recover this year.
The French company has benefited from strong growth in China, where consumers have continued this quarter as the epidemic continues to boost sales by 38 percent in their quarters. For many years Runs that America has become the second largest market after the United States.
But the consumer goods division, which sells mass-market brands such as Maybelline Makeup and Garnier Shampoos, and L’Oreal’s largest, had quarterly earnings compared to a year earlier. It has been penalized by customers spending more time at home because it has moved away from extensive decorating events.
Europe also remains as a critical point Infection and recurrent lockdown recurrence Demand has hurt
In contrast, Lyal’s skincare division, which sells brands such as Kihles and La Roche-Pasai, has grown despite repeated lockdowns of stores and beauty salons in most parts of Europe.
According to Thomson Reuters Icon, first-quarter sales stood at 7. 7.6bn, compared to analysts’ expected € 7.7 billion.
The effect of monetary measures and acquisitions before the sens value for a one-time biological growth of 7.7 percent, it represents a biological growth of 0.2 percent.
The result has been in favor of L’Oreal, which competes with smaller rivals Estee Lauder and Coty as well as individual brands.
Jean-Paul AgonNicholas Hironimas, who has been CEO since 2006, will step down in May, replacing him.
Agon led the French company, especially in Asia, to a period of global expansion that was largely achieved organically without the acquisition of Blockbuster. Even the biggest deals under his leadership did not exceed 2 2 billion, although L’Oreal often bought up-to-date brands like Kihl and then nurtured their growth.
Agon will take over the presidency after taking over Hearnimas, and he is a loyal believer in the billionaire Bettencourt-Myers family, the group’s largest shareholder.
The stock price led by fire from over 702 shares at around সময়ে 70 per share on Thursday. Shares are now trading at an all-time high, up 0 per cent from a hole in mid-March last year.
L’Oreal has shown that due to its international presence and ecommerce knowledge in the era of epidemics, investors have piled up that it can improve in the era of epidemics.
ECommerce, which included sales from L’Oreal’s own website as well as its partner retailers, rose 447 percent this quarter, down from the previous 2 percent when consumers tended to shop online when they closed stores. .
In February, Agon made a forecast Boom for beauty Once the Covid-19 epidemic was as severe as the 1920 global influenza pandemic of the 1920s. Although it is not yet fully operational, L’Oreal said there are encouraging signs from countries like China, where the infection is low, and Israel, where vaccination programs are very advanced.
“We believe our prediction will be confirmed, and the makeup party will begin,” Agon said.
Speaking of Israel, Hironimas said: “It may not be the roar of the 1920s now, but the signs are good.”