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L’Oreal misses fourth-quarter expectations with 2.5% rise in sales

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5 hours ago

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Reuters

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February 6, 2025

French cosmetics group L’Oreal reported a 2.5% rise in fourth-quarter sales on Thursday, missing expectations due to persistently weak demand in China and a slowdown in growth in North America.

L’Oréal

The owner of brands from Maybelline mascara to Lancome face cream said sales for the three months to end-December were 11.08 billion euros ($11.49 billion), up 2.5% on a like-for-like basis, versus expectations for a 4.4% rise, according to a consensus compiled by LSEG.

The results, slowing from a 3.4% rise in the third quarter, conclude a challenging year when a protracted slowdown in the Chinese economy and inflation in the United States dented demand for skincare and makeup in two of the company’s biggest markets.

Paris-based L’Oreal also lost market share in China’s mass market to domestic rivals such as Proya, analysts say, and its CeraVe and other products recommended by dermatologists face growing competition in developed markets.

Sales grew 1.4% in North America, much less than the 5.2% reported in the third quarter. In North Asia, revenues were down by 3.4%, after a 6.5% decline in the prior period.

The company said in October fourth-quarter sales growth would be comparable to the prior quarter’s.

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Fashion

L’Oreal heir to step down from board, ceding seat to son

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28 minutes ago

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February 6, 2025

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Reuters

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February 6, 2025

France’s L’Oreal said on Thursday that Françoise Bettencourt Meyers, granddaughter of the company’s founder and one of the world’s richest women, planned to step down from the board, with her son Jean-Victor to take over her role as vice-chair.

Reuters

Jean-Victor Meyers, 38, and younger brother Nicolas Meyers are already directors on the board.

Bettencourt Meyers has also proposed the family-owned holding company Tethys, L’Oreal’s largest shareholder, join the board, alongside her sons.

The proposal will be voted on at the annual general meeting on April 29, the company said in a statement. 

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Elf Beauty shares crater as weakening cosmetics demand dent annual forecasts

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60 minutes ago

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February 6, 2025

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By

Reuters

Published



February 7, 2025

Elf Beauty’s shares tumbled over 20% in extended trading on Thursday, after the cosmetics company cut its annual net sales and profit forecasts, citing weak demand in the mass beauty category at the start of the year.

Reuters

Elf Beauty is known for its vegan lip oils and makeup products at affordable price points, which are also available at drugstores and supermarkets such as Walgreens and Target.

Demand was softer in the mass beauty channel in January, and some of Elf’s newer products were “off to a slower start”, Chief Executive Officer Tarang Amin told Reuters.

“Elf’s core Gen Z demographic has been distracted by natural disasters, political change, and uncertainty over TikTok’s fate, and that’s likely to weigh on the brand through the rest of its fiscal year,” said Sky Canaves, principal analyst at Emarketer.

President Donald Trump‘s new 10% tariffs on imports from China could also force the company to raise prices, with about 80% of its products being manufactured in China, down from 100% five years ago.

Consumer uncertainty over inflation and the state of the economy weighed on the mass category in January, executives said on a post-earnings call.

The company now expects annual net sales of $1.30 billion to 1.31 billion, down from a prior target of $1.315 billion to 1.335 billion. It also lowered its annual adjusted profit per share target to $3.27 to 3.32 from $3.47 to 3.53.

Elf’s net sales for the third quarter, ended December 31, grew 31% to $355.32 million, beating estimates of $329.67 million, according to data compiled by LSEG.

Beauty giant Estee Lauder said earlier this week that it would cut more jobs and noted it was taking a hit from weakness in travel retail demand for beauty products in Asia.

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Mary Kay names new chief brand and scientific officer

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2 hours ago

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February 6, 2025

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February 6, 2025

Mary Kay Inc. announced on Thursday the appointment of Dr. Lucy Gildea to the role of chief brand and scientific officer.

Dr. Lucy Gildea – Mary Kay

In her expanded role that now encompasses chief brand officer, Gildea will guide the cosmetic giant’s brand identity, image, and strategy, ensuring consistency across all platforms and geographies, as well as activating the brand through engagement strategies and resonant brand storytelling, according to a press release.

Joining Mary Kay in 2017 as chief scientific officer, before being promoted to chief innovation officer, product and science in 2022,  Gildea has been credited for “modernizing and enhancing” the Dallas-based company’s competitiveness through product innovation and by improving organizational efficiencies.

Prior to Mary Kay, the health professional spent 15 years at Procter & Gamble working primarily in beauty technology and beauty/skin product development. She also held a variety of senior roles including leading development teams for upstream technology and measurement sciences across healthcare, beauty and personal care industries. Before P&G, Gildea lived in Singapore, advancing her experience with international markets.

“With her expertise in science and beauty innovation and customer-centric approach, Lucy will lead a strategic chapter of our transformation into the future,” said Ryan Rogers, chief executive officer of Mary Kay.

“The new global brand and science organization will contribute to our mutual business success by enabling our independent beauty consultants to share a transformative brand experience with their customers and thrive as personal beauty advisors, thus reinforcing the unique value proposition of direct selling.”

Gildea is also STEM advocate for women and girls, and serves as a board member at Baylor Scott & White Dallas Foundation and a board advisor at Baylor Scott & White Charles A. Sammons Cancer Center.

“Mary Kay was founded on a dream to enrich women’s lives with a product portfolio rooted in science. I am confident that integrating brand and science is the winning formula to meet global consumer needs and work toward our continued success. I look forward to maximizing synergies across our teams to captivate our Independent beauty consultants and invite a new generation of consumers to fall in love with our brand,” said Gildea.
 

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