Fears that China boost for L'Oreal's beauty label sales may not last
© Reuters. A cosmetic display of French cosmetics group L'Oreal is seen during the inauguration of the commercial zone at the Nice international airport Terminal 1 in Nice, France, June 10, 2016. REUTERS/Eric Gaillard/File photo
But investors will be looking for any sign that Chinese shoppers are turning to less expensive or local products. Its shares have outperformed rivals but are still down around 9% in the last six months, compared to a 45% drop for Estee Lauder Analysts at JPMorgan slightly lowered their estimate for L'Oreal's full-year sales growth to 12.1% on a like-for-like basis, citing a slowdown in North Asia.
Chinese cosmetic brands have gained market share as they adapt to local consumer preferences, with Bernstein pointing to recent growth in labels including Hangzhou-based Proya, Guangdong Marubi's Passional Lover and Kunming-based Botanee's Winona.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD aims to recapture 0.6400 as upbeat China Q3 GDP eases global slowdown fearsThe AUD/USD pair remains on track to recapture the round-level resistance of 0.6400 in the early New York session. The Aussie asset discovered interes
Read more »
What Is Kendall Jenner's Roman Empire?Before the model walked in the L'Oréal Paris Runway Show, she sat down with Vogue.
Read more »
What Is Kendall Jenner's Roman Empire?Before the model walked in the L'Oréal Paris Runway Show, she sat down with Vogue.
Read more »
China’s NBS: Positive momentum of China's economic recovery more obvious in Q3Following the release of the high-impact economic data from China for September, the National Bureau of Statistics (NBS) expressed its outlook on the
Read more »
US retail sales maintain upward trend, hitting $704 billion despite inflation fearsAmericans keep spending despite inflationary headwinds, with September's sales topping $704 billion, a 3.8% increase from a year ago.
Read more »
Holocaust survivor escapes Hamas but fears for missing familyBeing unsafe in her own home was a feeling that 87-year-old Holocaust survivor Ruth Haran had not experienced since the end of World War Two.
Read more »