0942 GMT - L'Oreal is expected to continue to show weakness in China, as the country faces economic woes, Stifel analyst Rogerio Fujimori writes in a research note. The analyst expects the French beauty giant to post like-for-like sales growth of 5.2% for the third quarter, slowing from the 7.3% it reported for the first half. "Chinese beauty consumption may recover in 2025 if wide-ranging stimulus measures eventually improve local consumer sentiment off depressed levels," Fujimori says. Despite current challenges, the company is a market share winner in a resilient global beauty market and has a track record of swiftly shifting resources to capitalize on the fastest growth drivers, he says. Shares are up 0.3% at 390.75 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
October 04, 2024 05:42 ET (09:42 GMT)
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