L'Oreal Should Take Heart from LVMH's Beauty Results
Dow Jones
Oct 13
1221 GMT - LVMH's third-quarter results for its beauty segments bode well for France's L'Oreal, Jefferies analysts write in a note to clients. Luxury-goods conglomerate LVMH recorded a 1% organic increase in revenue for its perfume and cosmetics division, which was ahead of Visible Alpha consensus. Its selective retailing business posted an 8% rise in organic revenue, helped by strong results at Sephora. LVMH's divisional growth provides some indication of category trends for L'Oreal's Luxe segment and the wider group, Jefferies says. Shares in L'Oreal rise 1.1%, while LVMH stock drops 1.2%.
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