L’Oréal rallies as sales increase offsets China concerns

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L’Oréal rallies as sales increase offsets China concerns

Late on Thursday, the 6th of February 2020, L’Oréal, the French personal care company based on Clichy, Hauts-de-Seine, primarily centring its focus on hair colour, skin care, sun protection, hair care and perfume, had released its quarterly earnings’ report for Q4, 2019, which had beaten an analysts’ estimate, eventually heaving up shares’ prices of the French cosmetics brand as much as 4.1 per cent in Friday’s (February 7th) pre-market trading, however, wrapped up the day 1.08 per cent higher to €270.70 per share.

Aside from that, in its Thursday’s (February 6th) announcement, the long-cherished cosmetics company and make-up brand, L’Oréal had also added that the China coronavirus crisis would likely to have a short-term impact over its Asian business., driving investors’ optimism further.

Besides, according to L’Oréal’s Q4, 2019, earnings’ report, the company’s fourth quarter revenue surged 11.4 per cent to €7.8 billion or $8.7 billion on a year-on-year basis, as rating L’Oréal’s shares’ prices at “hold,” brokerage firm Jefferies wrote in a client not, “Solid finish to very strong year.

” Apart from that, following reveal of its Q4, 2019 quarterly earnings’ report, a spokeswoman for L’Oréal was quoted saying that robust demands from Chinese consumers for luxury products such as L’Oréal Lancome range had fuelled up the company’s growth during holiday quarter.