HALISTER: L’Oreal 2Q LFL Sales Growth Misses Estimates

L’Oreal 2Q LFL Sales Growth Misses Estimates

(Bloomberg) -- L’Oreal 2Q total LFL sales up 4.3%, est. 4.6%.
  • 2Q total cosmetics unit LFL sales up 4.6%, est. 4.7%
  • 2Q cosmetics LFL sales growth by division:
    • Professional Products up 1.8%, est. 3%
    • Consumer Products up 4.7%, est. 4.2%
    • L’Oreal Luxe up 5.6%, est. 6%
    • Active Cosmetics up 5.7%, est. 6%
  • 2Q cosmetics LFL sales growth by geography:
    • W. Europe up 1.4%, est. 1.8%
    • N. America up 4.9%, est. 4.5%
    • New Markets up 7.4%, est. 7.1%
  • Body Shop LFL sales down 3.2%, est. +2%
  • 1H total sales EU12.89b, est. EU12.95b
  • 1H operating profit EU2.36b, est. EU2.39b
  • 1H oper. margin 18.3%, est. 18.4%
  • Says 1H reinforces confidence in ability to outperform its market, and to achieve another year of sales and profit growth in 2016
  • Call July 29 9am http://www.loreal-finance.com/eng/
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Source: BFW (Bloomberg First Word)

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