L’Oreal’s Winning Continues In Q3; Now To Fix ‘Only Weakness In The Picture’
Makeup softness isn’t the problem, per se, in L’Oreal’s sluggish US business, which is fixable with sharper innovation and execution driven by a newly instated leadership team, CEO Jean-Paul Agon says. L’Oreal’s overall global sales in fiscal 2019 to date are up 7.5%, like-for-like, after continued strong momentum in its fiscal 2019 third quarter.
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L’Oreal is not only learning new tricks in today’s digital world but continuing to outpace the competitive pack, with sales up double digits in fiscal 2019 to €29.9bn.
Lauder is responding to shifting trends with greater agility than ever while leveraging enhanced data analytics and consumer insight to innovate ahead of the curve, leadership says. Following 11% constant-currency growth in the fiscal 2020 first quarter, the firm is forecasting 8% to 9% net sales gains for the full year.