L’Oreal Slides After Profit Margins Miss Estimates

L’Oreal Slides After Profit Margins Miss Estimates

Balint Porneczi/Bloomberg

Gross profit as a percentage of sales narrowed to 71 percent in the six months ended June 30 from 71.5 percent a year earlier, L'Oreal SA said yesterday after markets closed, less than the 71.9 percent average estimate of four analysts compiled by Bloomberg.