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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  L'Oréal    OR   FR0000120321

L'ORÉAL

(OR)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 08/03 10:55:20 am
281.15 EUR   -0.65%
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L'Oreal : sees sales grow for first time since January

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07/31/2020 | 03:37am EDT
FILE PHOTO: A cosmetic display of French cosmetics group L'Oreal is seen at a duty free shop at Nice International Airport, in Nice, France

L'Oreal's sales rose in July for the first time since January, Chief Executive Jean-Paul Agon said on Friday, striking a more upbeat tone for the rest of the year with signs of a turnaround in China.

Temporary store closures and depressed demand during lockdowns to fight the coronavirus pandemic resulted in a sharper-than-expected 18.8% fall in second-quarter comparable sales, the owner of the Maybelline and Lancome brands said.

A recovery in China, L'Oreal's biggest market, and booming online sales of skincare products and hair tints across other markets, which have continued to thrive even as retailers re-open, would help earnings improve, the company said.

L'Oreal shares were up 1.3% at 0837 GMT after falling in early trading.

"The world will likely not experience lockdowns in a similar way to the first half, stores will likely remain open," Agon told a conference call with analysts.

L'Oreal was hit as department stores shut their doors temporarily and airport duty free shopping dropped off a cliff during the height of coronavirus lockdowns.

Make-up sales were hit particularly hard as consumers stayed at home, but shoppers still bought some cosmetics online and stocked up on other products. L'Oreal's e-commerce revenues accounted for a quarter of all sales, up from just under 16% at the end of 2019.

Agon said L'Oreal had trimmed costs by freezing staff headcount and clamping down on travel, and had cut out some expenses in stores. These included make-up testing displays, which consumers were not using during the crisis.

The company still planned to invest in marketing campaigns, however, including online, to promote new product launches in the second half, Agon said.

(Reporting by Sarah White; Editing by Edmund Blair and Susan Fenton)

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Financials
Sales 2020 28 563 M 33 508 M 33 508 M
Net income 2020 3 690 M 4 329 M 4 329 M
Net cash 2020 3 543 M 4 156 M 4 156 M
P/E ratio 2020 40,9x
Yield 2020 1,48%
Capitalization 158 B 187 B 186 B
EV / Sales 2020 5,42x
EV / Sales 2021 4,95x
Nbr of Employees 87 974
Free-Float 42,1%
Chart L'ORÉAL
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L'Oréal Technical Analysis Chart | MarketScreener
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Technical analysis trends L'ORÉAL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 263,88 €
Last Close Price 283,00 €
Spread / Highest target 18,7%
Spread / Average Target -6,76%
Spread / Lowest Target -29,7%
EPS Revisions
Managers
NameTitle
Jean-Paul Agon Chairman & Chief Executive Officer
Alexis Perakis-Valat President-Consumer Products Division
Barbara Lavernos Chief Operating & Technology Officer & EVP
Christophe Babule Chief Financial Officer & Executive Vice President
Laurent Attal Vice President & GM-Research & Innovation
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