LRLCF - L'Oreal CEO says beauty product consumption exempt from inflation thus far - Reuters

Consumers of L'Oreal SA(OTCPK:LRLCY) products are not feeling the sting of inflation so far, according to the firm’s CEO Nicolas Hieronimus. During a panel event at the World Economic Forum in Davos, Switzerland attended by Reuters reporters, Hieronimus said he has seen “no impact” on consumers of beauty products stemming from inflation.   Indeed, the company has proved quite resilient to inflationary pressures thus far in 2022. For example, the French-based company beat earnings expectations for the first quarter, breaking with peers like Estee Lauder (EL -1.2%) that cited inflationary issues among the catalysts for cuts to sales guidance.  Other beauty product-focused companies contending with potential inflationary impacts, or lack thereof, include Coty Inc. (COTY -3.5%), Revlon (REV -8.1%), Unilever (UL +0.3%), and Shiseido Co. (OTCPK:SSDOY -1.4%). Read more on why L’Oreal (OTCPK:LRLCY -0.5%) is a top pick in consumer staples at Deutsche Bank.

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L’Oreal CEO says beauty product consumption exempt from inflation thus far - Reuters