Economics
L’Oreal Slides on Fears That America’s Makeup Boom Is Waning
- Cosmetics giant’s North American sales fell in latest quarter
- China sales power strong first half overall at French company
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L’Oreal SA shares tumbled as a drop in North American sales raised concerns that a makeup boom fueled by beauty bloggers and selfies has lost steam.
The stock fell as much as 4.9% in Paris trading, the most in three years. The sales decline in a crucial region came even as demand from China lifted the world’s biggest maker of beauty products to its highest first-half growth in more than 10 years.