0937 GMT - Shares in European beauty companies drop after U.S. cosmetics company Coty warned of a sales slowdown in the second quarter. The group--which houses brands including Max Factor and Lancaster--said retailers are tightening their inventories due to slower growth trends and softer demand, particularly in the U.S. Coty's statement is the latest sign of slowing growth in the beauty market, which experienced a boom during the height of the pandemic. French rival L'Oreal and Clinique owner Estee Lauder have recently flagged softening trends in the beauty market, especially in China--which for years has been one of the growth engines for global cosmetics makers--and in the U.S. Shares in L'Oreal are down 2.5%. Puig and Douglas also trade 1.9% and 1.8% lower, respectively. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
October 15, 2024 05:38 ET (09:38 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。