LRLCY - Is Now the Right Time to Buy L'Oréal Stock?
L'Oréal (ENXT: OR) (OTC: LRLCY) might seem like a great stock to buy as inflation, rising interest rates, and other macro headwinds rattle the broader markets. The French cosmetics giant -- which also owns Lancôme, Maybelline, NYX Cosmetics, and Garnier -- mainly targets higher-income consumers who are better insulated from those economic shockwaves.
L'Oréal's sales dipped in 2020 as brick-and-mortar stores closed and people stayed home during the pandemic. But its sales recovered quickly in 2021 as the lockdowns ended and people went out again, and its growth remained resilient this year, largely defying the inflationary headwinds .
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Is Now the Right Time to Buy L'Oréal Stock?