PARIS (Reuters) - L'Oreal's shares slid lower on Wednesday after third quarter sales figures from the French cosmetics giant missed expectations, as low consumer confidence in China sapped demand for beauty products.
L'Oreal shares were down around 3 percent in early session trading.
Late on Tuesday, L'Oreal posted sales for the three months to the end of September of 10.28 billion euros ($11.10 billion), a 3.4% rise on a like-for-like basis at constant exchange rates, but below a Visible Alpha consensus of 6% cited by Jefferies.
"We expect a tough Q4 2024 and Q1 2025 ahead," wrote JP Morgan in a note on L'Oreal, while Deutsche Bank analysts reiterated their 'sell' rating on L'Oreal.
($1 = 0.9263 euros)
(Reporting by Dominique Patton; Editing by Sudip Kar-Gupta)
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。