L’Oreal‘s shares dropped sharply in Paris after the French cosmetics maker’s third-quarter sales missed expectations. Third-quarter sales of 10.3 billion euros ($12.01 billion) were hampered by weaker performance in North America.
L’Oreal reported a 0.5% rise in third-quarter sales on Tuesday
The stock was down around 7% at 0710 GMT, heading for its biggest one-day decline since February 2024 if losses hold.
Deutsche Bank analysts said in a note published ahead of the market open that they expected the stock to be weaker, pointing to the quarterly miss and a lack of visibility on performance in upcoming quarters, coupled with a risk of slower growth in China.
“Yesterday’s conference call leaves much to be desired with a murkier beauty outlook, which should weigh on shares today,” Barclays said in its note.
