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LVMH MO╦T HENNESSY LOUIS VUITTON SE

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L'Oreal CEO sees lasting US market growth

07/30/2021 | 07:15am EDT
FILE PHOTO: A cosmetic display of French cosmetics group L'Oreal is seen at a duty free shop at the Nice International Airport, in Nice

PARIS (Reuters) - Maybelline owner L'Oreal said on Friday the beauty company's performance in the United States would likely remain strong through to the end of the year, despite ongoing uncertainty related to the coronavirus pandemic and shifting recommendations on mask wearing.

"I think you can count on the U.S. to be back for the long term," CEO Nicolas Hieronimus, a L'Oreal veteran who took the helm in May, told analysts.

On Thursday the group reported second-quarter sales growth of 33.5%, boosted by strong U.S. and Chinese markets. The cosmetics giant, and high-end fashion labels like LVMH and Kering, have benefited from booming demand in both countries over the past quarter, marking a strong recovery and pushing past pre-pandemic levels lifted by pent-up demand as shops reopen.

U.S. consumption has recovered faster than in Europe, with perfume and make-up bouncing back strongly as socialising resumes, L'Oreal said.

The group has been working on boosting its e-commerce offering and rebalancing activities in the country, beefing up its skin care business, with its La Roche Posay label leading competitors in prescription skin care, Hieronimus said.

He added that the group aims to gain market share in the United States.

Vaccinated Americans have been allowed to ditch their masks but some exceptions remain.

(Reporting by Mimosa Spencer; Editing by Clelia Oziel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
KERING 2.49% 642.6 Real-time Quote.5.47%
L'ORÉAL 0.43% 385.05 Real-time Quote.23.38%
LVMH MOËT HENNESSY LOUIS VUITTON SE 0.99% 642.4 Real-time Quote.24.49%
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Analyst Recommendations on LVMH MO╦T HENNESSY LOUIS VUITTON SE
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Financials
Sales 2021 61 329 M 71 940 M 71 940 M
Net income 2021 10 424 M 12 227 M 12 227 M
Net Debt 2021 13 074 M 15 336 M 15 336 M
P/E ratio 2021 30,6x
Yield 2021 1,25%
Capitalization 320 B 375 B 376 B
EV / Sales 2021 5,44x
EV / Sales 2022 4,84x
Nbr of Employees 148 343
Free-Float 52,2%
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Mean consensus OUTPERFORM
Number of Analysts 29
Last Close Price 636,00 €
Average target price 727,43 €
Spread / Average Target 14,4%
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Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Independent Director
Diego della Valle Independent Director
Yves-Thibault de Silguy Independent Director
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