L'Oreal shares down 7% on lower-than-expected sales, slowdown in Asia
Publishing timestamp: 2024-02-09 09:49:44
Summary
L'Oreal shares fell over 7% after reporting lower-than-expected sales and a slowdown in demand in Asia. The company's fourth-quarter sales were below estimates, particularly in North Asia. However, luxury brand Hermes reported a surge in sales, with revenues rising in the fourth quarter and full year. Hermes also announced plans for an exceptional dividend.
Sentiment: NEGATIVE
Keywords: hermes international sca, luxury, business news, stock markets, business, l'oreal sa,