L'Oreal sees the world cosmetics market flat or growing slightly this year and is forecasting the group's trading to improve in the quarters ahead, the French beauty products giant said on Thursday 4 June.
The desire to look one's best has been a human obsession since the dawn of time, and the seeds of today's cosmetics industry were sown in antiquity, an exhibition on the history of personal grooming shows.
L’Oréal, celebrating its centenary on Thurday 4 June, has risen to the top of the global cosmetics markets through acquisitions and innovations, but the economic crisis could weaken a well-oiled strategy.
The American consumer products group Procter & Gamble (P&G) announced on Thursday 28 May that it was expecting a profit per share between $3.65 and $3.80 for 2010, well below the expectations of the market, which had hoped for $3.93.
Dollar Tree Inc shares touched a new year-high after the retailer posted a higher quarterly profit and raised its forecast for the year, buoyed by shoppers who headed to its stores for rock-bottom prices.
Beiersdorf have placed James Wei at the top of its group’s cosmetics activities in China, Thailand, Indonesia, South Korea, India and Singapore. The business will rely on him to develop its activity in Asia.
Cosmetics maker Revlon Inc said it would eliminate 400 positions worldwide as it seeks to reduce costs, and expects second-quarter results to be hit by retailers cutting inventory levels and foreign currency fluctuations, sending its shares down 15%
Sales at Italian department store chain Gruppo Coin SpA fell slightly year-on-year in the three months to April, as rain kept customers at home, although the trend changed in May, its top executive said on Monday 25 May.