Apr 19 2024: L’Oreal’s shares soared by over 4% in early Friday trading following the company’s announcement of a 9.4% increase in first-quarter sales on a like-for-like basis. This exceeded expectations, which had forecasted a 6.1% growth.
As of 0703 GMT, L’Oreal’s shares had climbed 4.7% to 443.800 euros. Despite experiencing a 6% decline earlier this year as of Thursday’s close, the robust Q1 sales results have sparked a positive response from investors.
Bernstein analysts noted in a memo to investors that L’Oreal had delivered strong performance with a 9.4% increase in Q1 sales. They highlighted the company’s adeptness at strategically allocating advertising and promotion (A&P) resources globally across various categories and demographics. This approach not only optimizes global growth but also bolsters the resilience of L’Oreal’s organic growth.
