L’Oreal Expects to Outperform Rivals Amid Temporary Virus Hit
- Shares gain in Paris after fourth-quarter revenue rises 9.6%
- Cosmetics maker forecasts demand to bounce back after epidemic
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L’Oreal SA expects demand for high-end beauty products to help it outperform beauty rivals, even as the coronavirus outbreak causes a temporary slowdown in the key market of China, Chief Executive Officer Jean-Paul Agon said.
The shares rose as much as 4% to a record Friday in Paris after the company reported its highest operating margin ever and the strongest revenue growth in more than a decade, driven by Asia.