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There is a different breed of stocks that investors should be aware of. They are GRANOLAS stocks which can be loosely thought of as the Magnificent Seven, but for European stocks.
L'Oreal S.A. (LRLCF) Q4 2023 Earnings Call Transcript
The net worth of the world's wealthiest woman Francoise Bettencourt Meyers fell precipitously Friday as shares of L'Oreal, the French beauty company about one-third owned by the billionaire and her family, registered their worst single-day performance since the Great Recession.
L'Oreal shares fell as much as 8% on Friday as the cosmetics giant said it's continuing to see pressure from mainland China and what it called the reset in travel spending.
L'Oreal shares fell more than 7% in early deals Friday as the company reported lower-than-expected sales and pointed to a slowdown in demand in Asia.
L'Oreal has signed a licensing agreement with high end fashion label Miu Miu for beauty products, the French cosmetics giant said on Friday.
Revenue in North Asia slumped 5.8% to EUR10.66 billion due to market softness in mainland China, the company said.
Francoise Bettencourt Meyers became the first woman to amass a $100 billion fortune, marking another milestone for the heiress and for France's expanding fashion and cosmetics industries. She's worth $100.2 billion according to the Bloomberg Billionaires Index.
Francoise Bettencourt Meyers, the granddaughter of the founder of French beauty brand L'Oreal, cracked the $100 billion barrier — becoming the first woman to boast 12-figure fortune. Bettencourt Meyers, 70, jumped to the No.
L'Oréal has seen strong growth in its Consumer Products division, with like-for-like sales increasing by 13.4% in Q3 2023. The division was boosted by successful new product launches in the Makeup category and strong growth in the fragrance category. The stock's P/E ratio is trading at 2019 levels, indicating cautious investor sentiment, but if earnings continue to rise, the stock could see further upside.