Consumer
L’Oreal Slumps After Chinese Shoppers Rein in Travel Spending
- Luxe unit grows least on exposure to travel retail channel
- Dermatological beauty unit solid, helped by La Roche-Posay
L'Oreal headquarters in Paris.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
L’Oreal shares slumped after sales disappointed as the owner of Lancome suffered from a decline in shopping by Chinese travelers.
The French cosmetic group’s stock fell 7% on Friday after reporting that sales rose 6.9% on a like-for-like basis in the fourth quarter, trailing estimates. Revenue from North Asia dropped 6.2%, while analysts had expected it to be little changed.