Cosmetics Compact: A mixed bag of results for industry’s top players
Whether in your lunch break, on your commute, or proudly displayed in your office, the compact is a great way to catch up on some of the highlights of the last few weeks.
This time out we turn our attention to the financial results once more after a lot of the big players posted their sales and earnings for the quarter, with some flourishing, while others struggled.
We start with a look at L’Oreal, who missed its third quarter sales expectations with the Luxe division facing difficulties in Asia and Travel Retail, but company CEO Jean-Paul Agon insists the slowdown is just ‘temporary’, and is not of concern to the firm.
Next up and Beiersdorf posted earnings that beat estimates thanks to new products and higher prices, leading to the company raising its profit guidance for 2015.
Over at Procter & Gamble, it saw all of its categories post a double-digit drop in sales for the first quarter due to weak demand and a strong dollar; with Beauty and Grooming coming off worst.
For Coty, it reported a mixed bag of results with profits up and revenues down, amid a busy time for the company.
Estee Lauder saw strong first quarter results give profits a significant boost, with Europe highlighted as a standout performer for the firm as almost every EMEA market posted double digit growth.
And finally, not such good news forAvon, as it was hit harder than most by a strong dollar, with net sales down 22% to $1.7bn, and the impact of new tax requirements in Brazil really hitting profits for the quarter.
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