The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — L'Oréal's shares rose on Wednesday after the French cosmetics group beat first-quarter sales forecasts.
The stock was up around 1.5 percent in early trading, among the biggest gains on Paris' benchmark CAC-40 index.
L'Oréal reported late on Tuesday higher-than-expected first-quarter sales growth. Across the group, sales rose 11.4 percent to €7.6 billion (£6.6 billion), and were up 7.7 percent on a like-for-like basis.
"2019 like for like sales off to a strong start, boosted by Asia," wrote brokerage Liberum, keeping a "hold" rating on L'Oréal shares.
By Sudip Kar-Gupta and Sarah White; editor: Mark Potter.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.
Any fashion company that is contemplating going public needs to have not only the product and brand fundamentals right but also a business strategy that can easily be understood by the markets, writes Imran Amed.
Consumer spending increased just 0.8 percent last month as the labour market cools.
The US economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears to have picked up early this quarter as a tight labour market underpins consumer spending.