Beiersdorf Shares Slide on Nivea Maker’s Sluggish Forecast

Beiersdorf AG forecast a sluggish year as it struggles to revive its flagship Nivea brand amid a skincare slowdown and competition from local brands.

The stock plunged as much as 18% in Frankfurt trading, its biggest decline in at least three decades, after the German skin-care maker said its profit margins will probably drop and sales will likely show little change.