0949 GMT - L'Oreal seems well positioned to pick up speed once current macroeconomic challenges cool, Barclays analysts Iain Simpson and Patrick Folan write. The owner of brands including Garnier and Maybelline New York posted third-quarter results below analysts' forecasts. L'Oreal has reported several quarters of disappointment, with the performance in China consistently worse than feared, they say in a note. "The problem is that China is negative and becoming more so." However, a combination of easier comparatives and the Chinese government's stimulus plan should stabilize the situation in the country. When that happens, growth elsewhere in L'Oreal's business should drive a rebound. Shares are down 3.7% at 353.55 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
October 23, 2024 05:49 ET (09:49 GMT)
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