OR.PA - L'Oréal S.A.

Paris - Paris Delayed price. Currency in EUR
270.40
+9.20 (+3.52%)
At close: 5:38PM CEST
Stock chart is not supported by your current browser
Previous close261.20
Open263.00
Bid0.00 x 0
Ask0.00 x 0
Day's range261.60 - 271.50
52-week range196.00 - 278.50
Volume693,777
Avg. volume786,761
Market cap151.232B
Beta (5Y monthly)0.47
PE ratio (TTM)38.57
EPS (TTM)7.01
Earnings date30 Jul 2020
Forward dividend & yield3.85 (1.47%)
Ex-dividend date03 Jul 2020
1y target est205.31
  • Globe Newswire

    L'Oréal: News Release: "Annual General Meeting of Tuesday 30 June 2020"

    Clichy, Monday 25 May 2020Annual General Meeting of Tuesday 30 June 2020Information available regarding the Annual General Meeting to be held on Tuesday 30 June 2020.Information regarding this meeting was published today, on Monday 25 May 2020, in the BALO (Bulletin des Annonces Légales Obligatoires) and includes the agenda, the draft resolutions and details on attending and voting. This notification about the meeting, the Board of Directors' report on the draft resolutions and legal information are now available on the www.loreal-finance.com website (under Regulated Information / Annual General Meeting Documents).Other documents and information concerning this meeting will be available to shareholders and also published on the www.loreal-finance.com website under legal and regulatory conditions from Tuesday 9 June 2020.L’Oréal informs its shareholders that its Annual General Meeting, which will be held behind closed doors, will be broadcast live and in its entirety on the site www.loreal-finance.com from 41 rue Martre in Clichy, L’Oréal administrative headquarters, on Tuesday 30 June 2020, at 10 a.m. Paris Time.Warning: Given the exceptional context related to the Coronavirus (Covid-19) epidemic and in accordance with Ordinance no.2020-321 of 25 March 2020, the Board of Directors decided on 12 May 2020 that the Ordinary and Extraordinary General Meeting of the Company, initially convened at the Palais des Congrès in Paris, a location affected by administrative measures, will be held on 30 June 2020 behind closed doors, without the physical presence of the shareholders and any other person having the right to attend the meeting, at the Company’s administrative headquarters (41, rue Martre,Clichy). In this context, shareholders are invited to vote by correspondence using the voting form or via the Internet on the Votaccess secure voting platform, or to give a proxy to the Chairman of the General Meeting or to any other individual or legal entity. Shareholders have the possibility to send written questions until Wednesday 24 June 2020 by registered letter with acknowledgment of receipt, and via the email address: info-ag@loreal-finance.comIn order to promote dialogue with shareholders, shareholders will also have the opportunity to ask questions which are not assimilated to written questions, between Thursday 25 June and Monday 29 June 2020 at the following address AG-questionslibres@loreal-finance.com. These questions will be organized in groups by main themes and will be answered, to the extent possible, during the Internet broadcast of the General Meeting. * * * "This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com. This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."Contacts at L'OréalIndividual shareholders and market authorities Jean Régis CAROF Tel: +33 1 47 56 83 02 jean-regis.carof@loreal.com  Financial analysts and Institutional investors Françoise LAUVIN Tel: +33 1 47 56 86 82 francoise.lauvin@loreal.comJournalists  Domitille FAFIN Tel: +33 1 47 56 76 71domitille.fafin@loreal.comSwitchboard: +33 1 47 56 70 00For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors, www.loreal-finance.com or the L’Oréal Finance app, alternatively, call +33 1 40 14 80 50.www.loreal-finance.com \- Follow us on twitter @loreal Attachment * LOREAL_NewsRelease_AG_JUNE_30_EN_2020_05_25

  • Can L'oreal Sa ride out the Covid-19 economic shock?
    Stockopedia

    Can L'oreal Sa ride out the Covid-19 economic shock?

    Economic shockwaves caused by Covid-19 have plunged stock markets into turmoil, but some shares are better able to absorb this volatility than others - and L'o...

  • Reuters - UK Focus

    LIVE MARKETS-EZ industrial production: Long way back to 2017 highs

    * EZ industry output suffers record fall in March Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. The pandemic came as a huge blow to EZ manufacturers, with industry output suffering its deepest monthly fall on record.

  • Reuters - UK Focus

    LIVE MARKETS-When will a vaccine be ready? Here's a guess!

    * EZ industry output suffers record fall in March Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. A limited number of vaccine doses could be available before year end, says the European pharma team at Credit Suisse.

  • Reuters - UK Focus

    MORNING BID-Grand failures

    The views expressed are her own.) "You will get business failures on a grand scale," was the warning last night from St Louis Federal Reserve President James Bullard. Expect his boss, Fed Chairman Jerome Powell, to repeat that message tonight. Fed funds futures are pricing in rates of about a basis point below zero by April 2021.

  • Reuters - UK Focus

    LIVE MARKETS-Opening snapshot: Risk-off mood hits banks, Vodafone up

    You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. Risk-off mood gripped the financial markets on fresh fears about a second wave of the coronavirus outbreak, while the gradual easing in lockdowns is under way. While utilities, retail and telcos are standing their ground even if in negative territory.

  • Reuters - UK Focus

    LIVE MARKETS-On the radar: L'Oreal, banks, Aston Martin and Volvo

    You can share your thoughts Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. Commerzbank posted a worse than expected net loss of 295 million euros, as the lender undergoes a restructuring due to the coronavirus outbreak. Commerzbank shares are down 2.3% in early trade.

  • L'Oreal pledges 150 million euros to fight climate change, support women
    Reuters

    L'Oreal pledges 150 million euros to fight climate change, support women

    The French firm, which makes Garnier shampoo and Lancome creams, said it would give 50 million euros to local and grassroots associations combating job insecurity, providing emergency aid and fighting rising violence against women. The group also pledged 50 million euros towards restoring damaged ecosystems and a further 50 million for projects promoting a circular economy, such as recycling and efforts to cut down on plastic waste. The company said that aside from this "L'Oreal For The Future" plan, it would present a new sustainable development programme for 2030 at the end of June.

  • Globe Newswire

    L'Oréal: News release: "Decisions of the L’Oréal Board of Directors of 12 May 2020"

    Decisions of the L’Oréal Board of Directors of 12 May 2020 * The Annual General Meeting will take place on 30 June 2020 behind closed doors * L’Oréal renounces an increase of the dividend * The Chairman & CEO’s remuneration will be reduced by 30% for the whole of 2020 * L’Oréal announces the launch of the social and environmental solidarity programme: "L’Oréal for the future"The Board of Directors of L’Oréal gathered for a meeting on 12 May 2020.The Board determined the agenda for the Annual General Meeting of Shareholders on 30 June 2020. Exceptionally, in the context of the Covid-19 pandemic and in accordance with Order no. 2020-321 of 25 March 2020, the Board of Directors has decided that this Annual General Meeting will be held behind closed doors.The Board will notably submit the following resolutions for approval at the Annual General Meeting: *        DividendIn the exceptional context of the Covid-19 crisis, the Board of Directors has decided to renounce the planned increase in the dividend of 10.4%, and consequently to propose to the Annual General Meeting a dividend of €3.85, identical to the amount paid in 2019. The dividend will be paid on Tuesday 7 July 2020, with an ex–dividend date of Friday 3 July at 00h00 (CEST). The Board has also decided to renounce to any share buyback operations for the whole of 2020, which amounted to 750 million euros in 2019.   *        Remuneration of the Executive OfficerIn view of the exceptional circumstances, and in a spirit of solidarity, Mr Agon informed the Board that he would renounce with immediate effect all remuneration for 2020 relating to the financial targets of his annual variable remuneration, which represents a reduction of 30% of the maximum amount of his annual fixed and variable remuneration for 2020, and all attribution of performance shares, if a plan were to be decided in 2020. The Board accepted. Launch of the “L’Oréal for the future” programmeFurthermore, in the exceptional context of the Covid-19 pandemic and its consequences, L’Oréal has decided to create a new social and environmental solidarity programme under the name of “L’Oréal for the future”.Fully aware of the challenges that lie ahead and of the need for active involvement to make tomorrow’s world more inclusive and sustainable, and in line with its sustainability programme, LOréal has decided via this new programme: * to create a philanthropic endowment fund of 50 million euros to support non-profit organisations that help women all over the world who are in highly vulnerable situations, victims of the social and economic crisis; * to reaffirm its commitment to the environment and to sustainable development by creating an impact investing fund of 100 million euros for the regeneration of damaged natural ecosystems and for combating climate change. Jean-Paul Agon, Chairman and CEO of L’Oréal, said: “Over the coming months, our societies will face social crises giving rise to situations of great human suffering, particularly for the most vulnerable. At the same time, we are fully aware that environmental challenges are increasingly pressing. It is essential not to step back from the sustainable transformation that the world needs. We therefore wish to reaffirm our commitment to the environment and to the preservation of biodiversity, and to help mitigate the social crisis for women. These two causes reflect the values and the historic commitment of L’Oréal.” L’Oréal and the Covid-19 pandemic Strongly mobilised since the start of the crisis, L’Oréal has implemented a major solidarity programme. It is fulfilling its responsibility to take action on behalf of its stakeholders, with the first priority being Group employees, whose jobs and salaries have been guaranteed. L’Oréal is also actively supporting healthcare, its customers and suppliers in more than 40 countries, by providing close to 14 million units of hand sanitiser and more than 4.3 million units of products, mainly hand cream and shampoo, produced by 70% of its factories worldwide. Numerous healthcare initiatives have thus been put in place in the countries where L’Oréal operates, as well as money donations up to close to 3 million euros. L’Oréal employees have also taken part by giving more than 1,200 hours of their time to L’Oréal citizenship programmes. The Group is also providing support to its partners: it has frozen payments receivable for more than 100,000 clients and shortened the leadtime for payments for close to 9,000 suppliers. As for non-profit organisations, the L’Oréal Foundation has made 1 million euros available to support people in need.   Information about the holding of the Annual General Meeting The Annual General Meeting will be held on 30 June 2020 behind closed doors, without the physical presence of the shareholders and other persons entitled to attend, at the headquarters of L’Oréal, 41 rue Martre, Clichy at 10 a.m. The Meeting will be broadcasted on the website www.loreal-finance.com In accordance with Decree no. 2020-418 of 10 April 2020, the Board of Directors has designated the companies Téthys and Nestlé as scrutineers. The notice to attend the meeting, containing all the information relating to participation in the Annual General Meeting, will be published in the Bulletin des annonces légales et obligatoires (BALO) on 25 May 2020 and will be available online at www.loreal-finance.com, in the “Regulated Information / Annual General Meeting Documents” section. Participation terms and conditions and all information relating to the Annual General Meeting will be available for consultation in this section of the website.  * * * “This news release does not constitute an offer to sell, or a solicitation of an offer to buy L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com. This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements.” This is a free translation into English of the news release issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.Contacts at L'OréalIndividual shareholders and market authorities Mr Jean Régis CAROF Tel: +33 1 47 56 83 02 jean-regis.carof@loreal.com  Financial analysts and Institutional investors Ms Françoise LAUVIN Tel: +33 1 47 56 86 82 francoise.lauvin@loreal.comJournalists  Ms Domitille FAFIN Tel: +33 1 47 56 76 71domitille.fafin@loreal.comSwitchboard: +33 1 47 56 70 00For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors, www.loreal-finance.com or the L’Oréal Finance app, alternatively, call +33 1 40 14 80 50.www.loreal-finance.com \- Follow us on Twitter @loreal Attachment * LOREAL_News_release_12_May_2020_EN

  • Globe Newswire

    L'OREAL: Disclosure of total number of voting rights and number of shares in the capital at April 30, 2020

    Société anonyme au capital de 111 855 722,20 euros Siège social : 14, rue Royale, 75008 Paris 632 012 100 R.C.S. Paris Legal Entity Identifyer : 529900JI1GG6F7RKVI53 Disclosure of total number of voting rights and number of shares in the capital at 30 april 2020 Pursuant to article L-233-8 II of the French “Code de Commerce” and 223-16 of the AMF's General Regulations:    Total number of shares 559,289,716 Number of real voting rights   (excluding treasury shares) 559,289,716 Theoretical number of voting rights 559,289,716 (including  treasury shares*)    (*) pursuant to article 223-11 of the AMF’s General Regulations About L'OréalL’Oréal has devoted itself to beauty for over 110 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 29.9 billion euros in 2019 and employs 88,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce. Research and innovation, and a dedicated research team of 4,000 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain.www.loreal.com CONTACTS AT L'ORÉALIndividual shareholders and market authorities Mr. Jean Régis CAROF Phone: +33.(0)1.47.56.83.02 jean-regis.carof@loreal.comFinancial analysts and institutional investors Mrs. Françoise LAUVIN Phone: +33.(0)1.47.56.86.82 francoise.lauvin@loreal.com  For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors, www.loreal-finance.com or the L’Oréal Finance app, alternatively, call +33 1 40 14 80 50. "This document does not constitute an offer to sell, or a solicitation of an offer to buy, L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorités des Marchés Financiers [which are also available in English on our Internet site: www.loreal-finance.com]. This document may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materiallyf rom those indicated or projected in these statements."        Attachment * Declaration at April 30 2020

  • Ninja Van’s Big-Ticket Funding Signals Startup Deal Resilience
    Bloomberg

    Ninja Van’s Big-Ticket Funding Signals Startup Deal Resilience

    (Bloomberg) -- Singapore’s Ninja Van has raised $279 million from backers including France’s GeoPost SA and ride-hailing giant Grab Holdings Inc., scoring one of Southeast Asia’s largest startup investments since Covid-19 was declared a pandemic.Facebook co-founder Eduardo Saverin’s B Capital Group and Monk’s Hill Ventures were among those that took part in the parcel delivery firm’s Series D round, completed after the outbreak drove a surge in online shopping among people sheltering at home. The Southeast Asian startup joins a select club of firms that have raised significant money this year, including Indonesian online marketplace GudangAda with a $25.4 million deal.The coronavirus outbreak and its accompanying economic fallout is stress-testing the region’s once high-flying startup ecosystem. But the twin Southeast Asian deals announced Tuesday underscore how investors continue to explore industries from e-commerce to gaming and telehealth, regarded as more resilient to or even beneficiaries of rolling lockdowns. Globally, tech investment has sputtered since the outbreak spooked deal-makers, shuttered smaller outfits and forced cash-burning corporations from Oyo to Grab to rein in spending. Just 44 Silicon Valley startups won funding in March, down from 126 two months prior, according to law firm Fenwick & West LLP.“The Covid scenario would be very helpful because dynamics have changed,” Chief Executive Officer Lai Chang Wen told Bloomberg Television’s Haslinda Amin and Yvonne Man on Tuesday. “With this renewed focus on e-commerce, we think this will be an inflection point for e-commerce in Southeast Asia.”Much remains uncertain and many tech companies warn the business environment could deteriorate unpredictably should Covid-19 persist into the second half. Underscoring the extent of the fallout, Indonesia on Tuesday posted its weakest economic growth since 2001.But for now, Ninja Van, which helps e-commerce clients deliver more than a million packages daily across six Southeast Asian countries, is benefiting from a spike in orders. Its latest fundraising surpassed a $200 million target set about a year ago and lifted its total financing to about $400 million, Lai said.The investor interest “shows that logistics is something which is around to stay,” he said. “Social distancing will have a profound effect.”He declined to disclose the company’s valuation, describing it as “vanity metrics.” “People who get overly fixated on that make a lot of mistakes,” he added.Lai, a 32-year-old former derivatives trader at Barclays Plc, founded Ninja Van in 2014 with two friends, aiming to use technology to make the logistics market more efficient. They picked the name Ninja Van to reflect the idea of working quietly to get things done. It now helps consumer brands from L’Oreal to Wing Tai Holdings Ltd.’s G2000 label digitize their businesses and sell to consumers, diversifying its clients beyond e-commerce platforms. The Singapore startup also aims to handle deliveries of merchandise for smaller merchants such as social media influencers.“It certainly isn’t the sexiest of companies but logistics has become a hot space since we invested five years ago,” said Lim Kuo-Yi, a managing partner of Monk’s Hill Ventures, the company’s first institutional investor. “Very few companies at this scale have shown the ability to cover the region comprehensively and is able to demonstrate a credible path to profitability.”Read more: Only 44 Startups In Silicon Valley Got Funded Last MonthOther backers in its latest round include Carmenta, Golden Gate Ventures Growth Fund and Intouch Holdings. Besides Singapore, Ninja Van operates in Indonesia, Malaysia, the Philippines, Thailand and Vietnam and employs more than 30,000 people, including some 20,000 full-time drivers. It’s profitable in half of those markets but needs time for the whole business to become “solidly profitable,” Lai said. Ninja Van may do another round of funding before a sale or IPO, he added.“All (exit) options are on the table,” he added. “But right now, solidly profitable is what we focus on.”Separately, GudangAda, which helps mom and pop stores buy goods such as cooking ingredients, instant noodles and beverages from wholesalers, said it secured $25.4 million in a round led by Sequoia India and Alpha JWC Ventures. It plans to recruit more than 100 employees this year, adding to a workforce of about 350, according to founder and Chief Executive Officer Stevensang, who like many Indonesians goes by one name.“We do have plans to strengthen our mid-senior team throughout the rest of this year, especially in areas of technology and product management,” he said in an interview.Read more: Sequoia India, Alpha JWC Lead Latest Online Marketplace Funding(Updates with CEO’s TV interview from the fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Will telcos be left behind post Covid, QE?

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

  • Reuters - UK Focus

    LIVE MARKETS-Broadcasters hit harder by advertising decline, all focus on Q3

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

  • Reuters - UK Focus

    LIVE MARKETS-French mom-and-pop investors in pandemic buying frenzy

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. There's been quite a lot written about pasta and flour stockpiling but piling up stocks during the worst economic and financial crisis in living memory is an interesting one!

  • Reuters - UK Focus

    LIVE MARKETS-GRANOLAS heavier than the FAAAM'ous five

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

  • What Did L'Oréal S.A.'s (EPA:OR) CEO Take Home Last Year?
    Simply Wall St.

    What Did L'Oréal S.A.'s (EPA:OR) CEO Take Home Last Year?

    In 2006, Jean-Paul Agon was appointed CEO of L'Oréal S.A. (EPA:OR). First, this article will compare CEO compensation...

  • Glow at home: Beauty industry remakes product pitches in the age of coronavirus
    Reuters

    Glow at home: Beauty industry remakes product pitches in the age of coronavirus

    In: dewy skin, under-eye concealer, moisturized hands. As consumers' social and travel plans have evaporated and work is conducted online, beauty brands have had to quickly redirect their pitches to show how their products are still relevant. Marketing from brands such as L'Oreal-owned <OREP.PA> Maybelline and Revlon Inc <REV.N> on Instagram, Facebook and YouTube now feature products suited for date nights over FaceTime, work-related video conference calls and Zoom happy hours.

  • Revenge Is a Dish That's Off the China Menu
    Bloomberg

    Revenge Is a Dish That's Off the China Menu

    (Bloomberg Opinion) -- China’s high-end consumers aren’t going on a “revenge spending” spree. They’re just bringing their love affair with luxury brands home. A surge in China sales for stores operated by the likes of LVMH and Hermes International has spurred optimism that consumer demand will snap back as the lockdowns lift. The reports offered a glimmer of light amid data showing that China’s retail sales plunged 15.8% in March from a year earlier.Unfortunately, it looks as though Chinese consumers are simply buying their alligator handbags and diamond watches at home instead of in Hong Kong, Paris or Milan. While travel restrictions aimed at halting the pandemic are partly responsible, the trend was already in place before the virus appeared — driven by a change in tax rates.Beijing has been encouraging the nation’s shoppers, who accounted for around a third of global luxury sales last year, to spend more money at home. The gap between prices of upscale goods onshore and overseas shrank to 15% last year from about 30% three years ago after a series of cuts to China’s luxury sales taxes. Protests last year in Hong Kong, a favorite pit-stop for buyers of high-end products, also helped to spur domestic sales. The migration still has a long way to run: Only 30% of China’s luxury purchases took place at home last year.All this suggests that this spurt in luxury sales is unlikely to be sustained at these levels. Chinese purchases won’t rescue the sector globally, as my colleague Andrea Felsted has noted. More than 90% of sales take place in bricks-and-mortar stores. That’s understandable: If you’re going to spend thousands of dollars on a handcrafted item, you’ll want to touch it, rather than just clicking a button on an e-commerce site. Besides, Chinese shoppers are still worried about their jobs and the prospect of salary cuts. Most people don’t plan to increase spending on high-end goods, according to a Morgan Stanley survey that suggests the uptick reported by LVMH, Hermes and L’Oreal SA may quickly fade. Of 2,000 consumers surveyed, 29% said they will spend less on luxury goods next month versus this month, while 40% said they would spend more on groceries. The survey covered city-dwellers aged 18 to 49 in 19 provinces.The luxury sales bounce will taper off into a gradual though sustainable rise, according to Lucia Li, a Beijing-based partner at Bain & Co. The consultancy divided Chinese consumer products into six categories ranked from those that will gain a permanent boost from the coronavirus, such as digital healthcare, to those that will face enduring headwinds such as traditional retailers. It placed luxury goods in the middle bracket, along with alcohol and household appliances.China will need to look elsewhere for its economic revival. This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • For Luxury Brands, It’s Too Early to Pop Open the Champagne
    Bloomberg

    For Luxury Brands, It’s Too Early to Pop Open the Champagne

    (Bloomberg Opinion) -- A flagship Hermes International store in Guangzhou reportedly took in $2.7 million on its first day reopening after the coronavirus lockdown, the biggest daily haul for a boutique in China, according to fashion trade bible WWD.The French luxury brand best known for its Kelly and Birkin bags may not be alone in enjoying the phenomenon that has been referred to as “revenge spending.” The term, coined to describe pent-up consumer demand in the 1980s after the poverty and chaos of the Cultural Revolution, is now being applied to splurging by Chinese shoppers as the virus recedes.LVMH, hit by a 17% decline in first-quarter sales excluding currency movements and acquisitions, said late Thursday that Chinese consumers were once again enthusiastically embracing its brands, including Louis Vuitton and Christian Dior. And my Bloomberg News colleagues reported that sales at LVMH stores on the mainland were up 50% year-on-year in the past three weeks.Cosmetics maker L’Oreal SA also pointed to a recovery in the region’s demand for beauty products. Of course, that may be a function of what’s called the “lipstick” index, where when times are tough consumers tend to buy smaller treats rather than more expensive items. But the signs do bode well for demand from Chinese consumers, who could account for 44% of luxury spending this year, according to analysts at Jefferies.Still, none of this may be enough to rescue second-quarter trading, nor the full year.First of all, there’s no guarantee that the rebound will be sustained. What’s more, during normal times the Chinese make the majority of their vanity purchases when they travel abroad. In this new post-coronavirus era, there has been an initial trend toward more domestic spending, and that could accelerate further. But bigger impulse purchases are still more likely to happen when people can finally visit cities such as Paris or Milan. With airplanes still grounded in many places and borders closed, travel is set to be severely constrained for some time, and that will be a drag on industry growth.Meanwhile, stores in Europe and the U.S. remain closed. When they finally reopen, brands will find it very difficult to compensate for fewer Chinese visitors. Massive job losses and all of the other economic hardships brought by lockdowns means they won’t be able to count on local shoppers to make up the difference. Consultants Bain & Co. estimate that global personal luxury goods sales could fall as much as 35% this year, with a mid-point scenario at 22-25%. This would be the worst decline in modern luxury industry history.Despite the inevitable industry downturn this year — one that will possibly stretch into 2021 — LVMH looks to be one of the best-placed luxury groups.With revenue of 52 billion euros ($56 billion) in 2019, more than three times that of its nearest rivals, LVMH has significant scale and a strong stable of brands, led by Louis Vuitton and Dior but also including Fendi and Celine in fashion and the Sephora beauty stores. The 10% decline in fashion and leather goods sales, excluding currency movements and acquisitions, is better than might have been expected. The company run by billionaire Bernard Arnault also has a diverse portfolio, both geographically and in terms of products, which include spirits and beauty lines too. This gives it scope to cut costs, but also, crucially, to invest when competitors may be weakened.There are some worries. For example, the $16 billion acquisition of American diamond-jewelry icon Tiffany & Co. will now be more of a challenge. (LVMH indicated on Thursday that it would still go ahead with the deal.) And it also has exposure to travel retail through major duty-free chain DFS, which may be depressed for some time.So LVMH won’t be immune from the continued disruption to luxury goods sales. But as it demonstrated in the first quarter it should be more than able to hold its own.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • L'Oreal eyes post-confinement rush to hair salons
    Reuters

    L'Oreal eyes post-confinement rush to hair salons

    L'Oreal <OREP.PA> is counting on consumers rushing back to hair salons to help its business recover quickly once European and U.S. coronavirus lockdowns are lifted, it said on Thursday, adding that beauty sales were bouncing back already in China. "It is not of course a great incentive to wear lipstick," Agon told analysts.

  • L'Oreal banks on cosmetics bounceback, citing Chinese pick-up
    Reuters

    L'Oreal banks on cosmetics bounceback, citing Chinese pick-up

    Maybelline make-up manufacturer L'Oreal said on Thursday it was counting on a quick recovery in cosmetics demand once global lockdowns to combat the coronavirus pandemic ease, pointing to a recovery already under way in China. The French group posted a 5% fall in comparable first quarter revenue, broadly in line with its latest guidance, after lockdowns in China and elsewhere to fight the outbreak hit demand and sparked store closures. The shutdowns were replicated in Europe and the United States at the end of March, forcing airport retailers, hairdressing salons and beauty store chains to shutter, and are likely to cause a greater dent to cosmetics firm's earnings in the second quarter.

  • L'Oreal sales fall in first quarter, e-commerce surges
    Reuters

    L'Oreal sales fall in first quarter, e-commerce surges

    Maybelline make-up manufacturer L'Oreal OREP.PA on Thursday posted a 5% fall in comparable first quarter revenue, after lockdowns in China and elsewhere to fight the coronavirus pandemic hit demand and sparked store closures. The company said online sales had surged in the first quarter, while demand in China had begun to pick up again as coronavirus restrictions there are eased.

  • Globe Newswire

    L'Oréal: News release: "First Quarter 2020 Sales"

    Clichy, 16 April 2020 at 6:00 p.m. First Quarter 2020 SalesSales evolution: -4.8% 1 * Sales: 7.22 billion euros *  -4.8% like-for-like 1 *  -5.0% at constant exchange rates *  -4.3% based on reported figures * Resumption of business in China, +6.4% in first quarter 1 * Growth in e-commerce: +52.6% 2 * Active Cosmetics Division still posting double-digit growth * All L’Oréal teams strongly mobilisedCommenting on the figures, Mr Jean-Paul Agon, Chairman and CEO of L'Oréal, said: “In a situation marked by the expansion of the Covid-19 pandemic, which first appeared in China and has spread to the rest of the world, L’Oréal’s number one priority is to ensure the protection of its employees. The Group has also taken a large number of solidarity measures for its customers and partners, and is providing support to health authorities 3. The first quarter of 2020 has seen a decline in the cosmetics market of around -8%. In these difficult circumstances, L’Oréal has succeeded in outperforming the market with sales at -4.8% like-for-like 1. The performances by Division are contrasted. The L’Oréal Luxe and Professional Products Divisions are the most impacted due to the closure of perfumeries, department stores and hair salons in many countries. The Consumer Products Division however has seen a more moderate decline, largely because the activity in mass-market retail has been maintained. Lastly, the Active Cosmetics Division is still posting double-digit growth, with the pharmacy channel still open, and a portfolio of brands that is adapted to the strong demand for health-related products. All geographic Zones have progressively been impacted by the closure of sales outlets and the introduction of lockdown measures: first of all in China from January, and then in the rest of the world, particularly in Western Europe from the beginning of March, and in North America from the end of March. As for Travel Retail, it has been heavily impacted by the sharp restrictions on travel worldwide. Note that China is already seeing an encouraging recovery in beauty product consumption. E-commerce, a key growth driver for the Group, is growing at +52.6%, and now represents close to 20% of sales 2. The current crisis has led to a strong acceleration of the digital transformation on which L’Oréal is particularly well positioned thanks to its strength in e-commerce and its expertise in digital media, content and services which enrich the consumer experience.  In an environment that is evolving every day, lockdown measures will clearly continue to have a significant impact on the consumption of skincare and beauty products, and consequently on our business in the second quarter. However, as the example of China has shown, the current situation does not call into question consumers’ strong appetite for beauty products, which remains intact. The market should recover quickly as soon as measures to close sales outlets are lifted.In this context L’Oréal’s fundamentals remain more relevant than ever. First of all, our strength rests on our balanced business model, with our presence in all distribution channels and all categories. In addition, the Group has already introduced very strict measures in terms of operational discipline, with a freeze on the worldwide headcount, a freeze on travel, a reduction in non-essential spending, and a thorough review of business drivers and investments. Furthermore, L’Oréal entered this period with a robust balance sheet, a high level of shareholders’ equity, a positive net cash situation, and with very substantial credit lines available. Finally, it is the outstanding talent and commitment of L’Oréal teams all over the world, and the agility of its organisation, which enable the company to adapt, country by country, to the constantly changing situation. We are therefore confident in our ability to traverse this period of crisis in the best possible conditions and to reaccelerate as soon as conditions permit in each geographic Zone.”First quarter 2020 sales Like-for-like, i.e. based on a comparable scope of consolidation and constant exchange rates, the L’Oréal group sales were at -4.8%. The net impact of changes in the scope of consolidation was -0.2%. Evolution at constant exchange rates amounted to -5.0%. Currency fluctuations had a positive impact of +0.7%. Extrapolating from the exchange rates on 31 March 2020, i.e. with €1 = $1.095 up to 31 December, the impact of currency fluctuations on sales for the full year 2020 would be approximately -1.0%. Based on reported figures, the Group’s sales, at 31 March 2020, amounted to 7.22 billion euros, that is -4.3%.Sales by Division and geographic Zone   Quarterly sales Evolution € million 1st quarter 2019 1st quarter 2020 Like-for-like Reported By Division      Professional Products 835.3 751.1 -10.5% -10.1% Consumer Products 3,284.5 3,169.8 -3.6% -3.5% L’Oréal Luxe 2,679.6 2,464.4 -9.3% -8.0% Active Cosmetics 751.0 839.9 +13.2% +11.8% Group total 7,550.5 7,225.2 -4.8% -4.3% By geographic Zone         Western Europe 2,169.0 1,997.7 -7.7% -7.9% North America 1,895.5 1,847.2 -4.8% -2.5% New Markets, of which: 3,486.0 3,380.3 -2.9% -3.0%  - Asia Pacific 2,398.0 2,337.2 -3.7% -2.5%  - Latin America 422.3 394.8 +0.8% -6.5%  - Eastern Europe 483.5 479.6 -1.4% -0.8%  - Africa, Middle East 182.1 170.7 -5.6% -6.3% Group total 7,550.5 7,225.2 -4.8% -4.3% Summary by DivisionPROFESSIONAL PRODUCTSAt the end of March, the Professional Products Division is at -10.5% like-for-like and -10.1% reported. After a good start to the year – particularly for its biggest brand, L’Oréal Professionnel, confirming that its transformation is paying off – the Professional Products Division saw its growth brake sharply in March, with the progressive closure of hair salons in many Zones, particularly in Europe and the United States. Kérastase posted growth in the first quarter, thanks to the launch of its new anti-hair loss range Genesis and the recovery of business in the Asia Zone, especially in China. The brand is also driven by the global dynamism of the Division’s e-commerce.  The historic partner of hairdressers, the Professional Products Division is committed to them more than ever in this current period, first by freezing the debts of small independent salons until they resume their activity, and second by stepping up its digital services, making its L’Oréal Access e-learning platform available to hairdressers. Thanks to digital activation, it is preparing and supporting hairdressers so they can resume business in the best possible conditions.CONSUMER PRODUCTSAfter a dynamic month of January maintaining the fourth quarter momentum, the Division posted a first quarter at -3.6% like-for-like and -3.5% reported. The health crisis has had a widely contrasted impact on categories, distribution channels, regions and therefore brands. The category most affected is makeup, resulting in a clear temporary slowdown for Maybelline New York and NYX Professional Makeup, after a good start to the year. Facial skincare has also slowed, while in contrast facial cleansing, hygiene, hair care and above all home-use hair colour are accelerating, to the benefit of Garnier in particular in the final weeks of March in the Western countries. The current situation is favourable to convenience store food retail, and is rapidly accelerating the transition to e-commerce, where the Division recorded strong growth in the first quarter. The Division has set itself three major priorities to combat the effects of the crisis and emerge from it stronger than before. First of all, the maximisation of e-commerce opportunities thanks to L’Oréal’s unique expertise in China and acceleration plans in place all over the world. Secondly, the adaptation of communication plans in the light of this new reality, by drawing on our digital leadership. The strength of our brands on social media enables us to adapt our content in real time, and to remain in close touch with our consumers while keeping costs under control. Thirdly, the strengthening of our action plans in categories where demand is accelerating and worldwide mobilisation to ensure the availability of our products.L’ORÉAL LUXEL’Oréal Luxe ended the quarter at -9.3% like-for-like and -8.0% reported, but was above the worldwide luxury beauty market, estimated at around -16%. After a highly dynamic start across all geographic Zones, the Covid-19 crisis led to the closure of most brick-and-mortar and airport sales outlets in all of our major markets: Northern Asia and Travel Retail from February, and North America and Western Europe from March. This part of our business is therefore down sharply, while e-commerce on the other hand remains very buoyant, up by +57% 2 worldwide. The category most affected by the crisis is makeup, while skincare and fragrances are proving more resilient, reflecting consumer demand for products linked to well-being and personal care. As a result, our big brands with a large proportion of skincare, such as Kiehl’s, Lancôme and Helena Rubinstein, are significantly outperforming the market. Our 2019 fragrance launches have maintained momentum, alongside our historic pillars, and have enabled our couture brands – Giorgio Armani, Yves Saint Laurent and Ralph Lauren – to resist well. In the first quarter, the Division adapted very quickly to these new market conditions by reshaping and reallocating its business drivers across its digital ecosystem. It is counting in the short term on its strength in e-commerce across all Zones and on its leadership in China, where there are clear and encouraging signs of a recovery in consumption. As soon as conditions permit, it will be ready to grow once again, with a sustained and concentrated plan of major global launches in the second half of the year across the whole portfolio.ACTIVE COSMETICSDespite the health crisis that hit Asia and is spreading in Europe, the Active Cosmetics Division has performed very well, at +13.2% like-for-like and +11.8% reported. Some two-thirds of the Division’s sales are through pharmacies and drugstores. These channels, whose main priority is to supply medicine, have remained open since the beginning of the crisis. This means that our major dermatological brands, particularly CeraVe and La Roche-Posay, are well positioned to meet consumer expectations for hygiene and daily skincare products. The Division is growing in all geographic Zones. In Asia, double-digit growth is driven in particular by China, Japan and Australia. China has maintained a robust growth curve, despite the closure of department stores, thanks to the digital activation of our brands and the outperformance of e-commerce, the Division’s number one distribution channel. The great success of SkinCeuticals is confirmed. North America also remained extremely dynamic before the epidemic began, with double-digit growth rates for the SkinCeuticals and CeraVe brands. Western Europe, which has posted slight growth, has been impacted since March by the lower footfall in sales outlets, particularly in large urban pharmacies. The Division has taken initiatives to accelerate the expansion of e-commerce. The La Roche-Posay brand has been at the forefront of producing hand sanitiser gel and making it available to health professionals, hospitals, residential care homes for the elderly, and partner pharmacies.Summary by geographic ZoneWESTERN EUROPEIn the first quarter the Western Europe Zone saw its sales decline by -7.7% like-for-like and by -7.9% reported. Business was impacted by lockdown measures, and by the closure of hair salons and perfumeries in almost all countries in the Zone in March. Italy in particular has been adversely affected, and over recent weeks Spain and the United Kingdom. The Scandinavian countries, the Netherlands and Germany have been more resilient. L’Oréal Luxe and the Professional Products Division in particular have been affected by the closure of sales outlets. The Consumer Products Division has been held back in makeup, but sell-out has accelerated in recent weeks in the haircare category and particularly in home-use hair colour. The Active Cosmetics Division has grown, thanks to the dynamism of La Roche-Posay and the strong acceleration of CeraVe. The significant weight of e-commerce in Northern Europe and the United Kingdom has limited the impact of the closure of sales outlets. In this channel, L’Oréal can take advantage of the powerful reputation of its brands and from the investment made in digital over the last few years. The Southern countries are however benefiting less, due to the lower penetration of e-commerce and the saturation of our clients’ logistic capacities. To make the most of the rebound as soon as it happens, each country has drawn up a dynamic commercial plan, with logistic capacities that will ensure good levels of service to our clients.NORTH AMERICAThe North America Zone is at -4.8% like-for-like and -2.5% reported. Despite a good start to the year, business slowed sharply towards the end of March. Selective and professional distribution are the sectors most affected by the closure of many sales outlets. L’Oréal Luxe is mobilising all its resources to accelerate online sales both on its own brand websites and on its partners’ e-commerce websites. The Professional Products Division has launched a solidarity plan for hairdressers, has taken initiatives to modernise and digitalise its training, and is mobilising all its brands’ social media to enable interaction with hairdressers. The SalonCentric e-commerce platform also enables independent hairdressers to obtain supplies and continue their activities. Most mass-market retail outlets remain open. The Consumer Products Division is therefore adapting its commercial and activation plans to meet the needs of new home beauty trends. In particular it is seeing a sharp acceleration of its hair colour sales, bringing market share gains and reinforcing its leadership. The Division is modernising and accelerating the omni-channel experience with its distribution partners, as well as “click and collect”. The Active Cosmetics Division, despite a slowdown since mid-March, has posted strong double-digit growth, driven by all of its brands and especially by CeraVe at more than 40%. E-commerce too is growing very fast. Medical visits now take place remotely, encouraging online sales. Faced with the current exceptional situation, all our teams are mobilised to reinvent the way we interact with consumers and to create new digital formats and connections. NEW MARKETSAsia Pacific: the Zone is at -3.7% like-for-like and -2.5% reported, with a quarter very contrasted geographically. Mainland China After a strong start to the year prior to the Chinese New Year break, the lockdown following the outbreak of Covid-19 led to the closure of many stores, and as a result had an impact on the business in February. The month of March showed progressive signs of recovery. L’Oréal was able to rebound quickly to achieve growth in March and a positive first quarter, gaining market share and reinforcing its leadership position on the beauty market. This rebound was due to the early restoration of operational capabilities in February, strict application of safety measures to ensure a safe working environment, as well as the rapid adjustment of activation plans in favour of Online and O+O (Online + Offline) activities. A strong bet on the Women’s Day Festival triggered the recovery. During this online festival, L’Oréal China gained significant market shares with a strong contribution from L’Oréal Paris, Lancôme, SkinCeuticals, Helena Rubenstein, 3CE Stylenanda and Kérastase.In Asia Pacific, tourist markets were severely impacted due to the absence of Chinese shoppers. Other countries resisted at the beginning of the year, but from March were heavily impacted by lockdown causing business disruption in all markets. Nevertheless, Indonesia posted double-digit growth, and Australia is growing. Skincare has been the most resilient category. The Active Cosmetics Division posted strong growth across the Zone, especially in China, Japan and Australia. The Professional Products Division was severely affected due to the closure of hair salons in all markets. E-commerce continues to grow at more than 60%, especially in China, Japan, Australia, Thailand and Indonesia 2. Latin America: the Zone is at +0.8% like-for-like and -6.5% reported. The quarter was contrasted with double-digit growth over the first two months and a sharp deceleration in March. Brazil, Chile and Uruguay remained positive for the quarter. Mexico had mixed results. Columbia and Peru were heavily impacted by the closure of beauty stores and perfumeries. The Professional Products and L’Oréal Luxe Divisions both declined due to the closure of malls and salons in the Zone. The Consumer Product Division was less heavily impacted and grew over the quarter in Brazil and Chile. Active Cosmetics maintained a strong rhythm of double-digit growth. By category, makeup and hair colour have slowed given the closure of many distribution channels, while skincare remains dynamic. The Zone has quickly adapted to the environment with a strong focus on e-commerce, up by +45% 2.Eastern Europe: The Zone is at -1.4% like-for-like and -0.8% reported.  After a good start of the year, the month of March was impacted by lockdowns and store closures in many countries of Central Europe, as well as Israel, whilst countries such as Russia or Turkey have gone through partial shutdown. The Zone experienced a drop in sales as of mid-March. Turkey, Czech Republic, Romania and Ukraine remain positive. Food stores, pharmacies, convenience stores and hard discounters have remained open in many countries, however drug chains, perfumeries, luxury retail and hair salons have come to a stop. In this context, the Zone is focused on e-commerce (e-retailers, pure players, our brands’ own websites) as well as food stores and pharmacies. In terms of categories, the Zone focuses on hair colour at home, haircare, face care and hygiene products.Africa, Middle East: the Zone is at -5.6% like-for-like and -6.3% reported. Middle Eastern and North African countries were hit by lockdown measures in early March. The major malls in the Middle East have closed, food stores and pharmacies remain open. Saudi Arabia, Egypt and Pakistan posted strong growth. South Africa reacted with a complete shutdown in the last week of March, which has had an immediate and important impact on sales. In the second quarter, the focus will be on e-commerce, food stores and pharmacies, as well as home-use hair colour, haircare and face care by category. TRAVEL RETAILDespite an outstanding start to the year for our global brands, Lancôme, Giorgio Armani, Yves Saint Laurent, Kiehl’s and L’Oréal Paris, this channel ended the first quarter with a double-digit decrease 1. The Travel Retail market has fallen in all geographic Zones following the progressive closure of airports and stores, and the standstill in air traffic. It should be stressed however the progressive reopening of stores in Northern Asia in particular. Note that the importance of our major fragrances has been confirmed, as well as skincare – especially dermocosmetics – in airport outlets. L’Oréal, in close collaboration with duty free operators, is preparing for a gradual recovery by geographic Zone. Covid-19: Overview of measures taken by the L’Oréal group In view of the spread of the Covid-19 virus, L’Oréal’s absolute priority is to protect the health of its employees worldwide, while also ensuring that the Group provides all its help and solidarity wherever possible. A number of measures have therefore been taken, related to health, salaries and economic matters.Health measures * All the L’Oréal group factories worldwide equipped with a certified unit for handling alcohol and flammable substances (28 out of 39 factories) are today being used to produce hand sanitiser gel in Europe, the United States, Latin America, Asia and Africa. In all, some 2,400 tonnes of gel, representing more than 14 million units, will be produced by the end of May 2020. * Moisturising hand creams have also been donated for the use of medical personnel. * L’Oréal has mobilised its operational infrastructures in France and China and placed them at the disposal of the French authorities for ordering large quantities of medical equipment, including hundreds of respirators and tens of millions of masks, which will be transported to France in accordance with the government’s instructions. * Numerous health initiatives have been set up in the countries where L’Oréal operates. In the United States, for example, the Group has donated more than one million dollars worth of hygiene and personal care products, and USD 250,000 to non-profit organisations providing emergency support across America to families suffering from financial or food insecurity. In Canada, L’Oréal has also made a donation totalling CAD 200,000, comprising both funding and hygiene products. In China, L’Oréal has donated RMB 5 million to the Chinese Red Cross for the purchase of emergency medical supplies.             Salary measures * L’Oréal maintains jobs and salaries for all L’Oréal employees worldwide. * In France, L’Oréal will not furlough employees between now and the end of June, even though in many fields of activity several categories of employees are at a partial or total standstill.    Economic measures and corporate citizenship * All over the world, L’Oréal has chosen to help its small professional clients and small perfumeries to defer the payment of their debts in light of cash flow difficulties they may be facing, until their activities recover. L’Oréal has shortened the delay of payments to its most seriously affected suppliers. * In France, the Group has given an undertaking that it will not postpone the payment of any social or tax charges (contributions, taxes, etc.) during this period. L’Oréal FoundationTo contribute to the fight against the coronavirus pandemic and its consequences for the most vulnerable members of society, the L’Oréal Foundation has decided to donate one million euros to associations, some of which are already partners in the Foundation’s programmes, working in France to combat deprivation. The L’Oréal Foundation will also provide support to Emergency and Banco Alimentare in Italy.Important events during the period 01/01/20 to 31/03/20 * On 26 February, L’Oréal was recognised as one of the World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the ethical standards of business practices. This is the eleventh time that L’Oréal has achieved this recognition, underscoring its commitment to leading with integrity and prioritising ethical business practices.   * On 17 March, the 2019 Universal Registration Document was registered with the French Market Authorities. The Universal Registration Document comprises the annual financial report, an integrated report, the reports from the Auditors and their fees, and the information required for the share buy-back programme.   * On 30 March, the Board of Directors of L’Oréal held a meeting, and in view of exceptional circumstances linked to the Covid-19 epidemic, decided to postpone the Annual General Meeting, initially scheduled for 21 April, to 30 June 2020. The Board of Directors will in due course determine the arrangements to be made for the holding of the Meeting, as well as for the dividend and its date of payment.   * On 31 March, after obtaining the necessary authorisations from the relevant authorities, L’Oréal finalised the acquisition of the Mugler brands and Azzaro fragrances from Clarins Group, in accordance with the terms announced on 21 October 2019.                                     “This news release does not constitute an offer to sell, or a solicitation of an offer to buy L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com. This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements.”This is a free translation into English of the First quarter 2020 sales news release issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.Contacts at L'Oréal Individual shareholders and market authorities Mr Jean Régis CAROF Tel: +33 1 47 56 83 02 jean-regis.carof@loreal.com  Financial analysts and Institutional investors Mrs Françoise LAUVIN Tel: +33 1 47 56 86 82 francoise.lauvin@loreal.comJournalists  Mme Domitille FAFIN Tel: +33 1 47 56 76 71domitille.fafin@loreal.comSwitchboard: +33 1 47 56 70 00For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors, www.loreal-finance.com or the L’Oréal Finance app, alternatively, call +33 1 40 14 80 50.  AppendixL’Oréal group sales 2019/2020 (€ million)  2019 2020 First quarter 7,550.5 7,225.2 Second quarter 7,261.0   First half total 14,811.5   Third quarter 7,182.8   Nine months total 21,994.3   Fourth quarter 7,879.3   Full year total 29,873.6   www.loreal-finance.com \- Follow us on Twitter @loreal* * *  1 Like-for-like: based on a comparable scope of consolidation and constant exchange rates. 2 Sales achieved on our brands’ own websites + estimated sales achieved by our brands corresponding to sales through our retailers’ e-commerce websites (non-audited data). 3 The measures are detailed further in this article.  Attachment * LOREAL_Sales_Q12020

  • Globe Newswire

    L'OREAL: Disclosure of total number of voting rights and number of shares in the capital at 31 march 2020

    Société anonyme au capital de 111 623 441 euros Siège social : 14, rue Royale, 75008 Paris 632 012 100 R.C.S. Paris Legal Entity Identifyer : 529900JI1GG6F7RKVI53 Disclosure of total number of voting rights and number of shares in the capital at 31 march 2020 Pursuant to article L-233-8 II of the French “Code de Commerce” and 223-16 of the AMF's General Regulations:   Total number of shares558,392,586 Number of real voting rights  (excluding treasury shares)558,392,586 Theoretical number of voting rights558,392,586 (including  treasury shares*)   (*) pursuant to article 223-11 of the AMF’s General Regulations About L'OréalL’Oréal has devoted itself to beauty for over 110 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 29.9 billion euros in 2019 and employs 88,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce. Research and innovation, and a dedicated research team of 4,000 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain.www.loreal.com CONTACTS AT L'ORÉALIndividual shareholders and market authorities Mr. Jean Régis CAROF Phone: +33.(0)1.47.56.83.02 jean-regis.carof@loreal.comFinancial analysts and institutional investors Mrs. Françoise LAUVIN Phone: +33.(0)1.47.56.86.82 francoise.lauvin@loreal.com For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors, www.loreal-finance.com or the L’Oréal Finance app, alternatively, call +33 1 40 14 80 50. "This document does not constitute an offer to sell, or a solicitation of an offer to buy, L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorités des Marchés Financiers [which are also available in English on our Internet site: www.loreal-finance.com]. This document may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materiallyf rom those indicated or projected in these statements." Attachment * Declaration at March 31 2020

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