PARIS — French beauty giant L’Oréal posted net profits before exceptional items up 29.6 percent to $754.4 million year-on-year.
All dollar figures are converted from the euro at current exchange rates. For six months ended June 30, the firm registered adjusted operating profits, including exchange gains and losses, of $1.03 billion, up 27.2 percent versus the same period in 2001.
"Strong organic growth in sales, together with productivity gains and careful management of exchange rate risks, have brought a marked increase in margins," said L’Oréal chairman and chief executive officer Lindsay Owen-Jones in a statement. "Although it is not possible to extrapolate from the first-half results, they seem extremely encouraging. Our confidence in the results for the year as a whole has been strengthened. Despite an unpredictable economic climate, 2002 should be a very good year for L’Oréal."
As previously reported, L’Oréal’s consolidated first-half group sales were $7.29 billion, up 5.6 percent based on a consolidated basis and 8.6 percent on a like-for-like basis.
Total cosmetics sales were $7.15 billion, up 6.1 percent in consolidated figures and 8.4 percent in like-for-like growth. L’Oréal’s consumer products division closed the half with sales of $3.97 billion, up 6.6 percent in consolidated figures and 9.1 percent in like-for-like terms; luxury products rang up $1.74 billion, a rise of 3.8 percent on a consolidated basis or 5.5 percent like-for-like. Professional products generated $974.3 million, an increase of 6.6 percent or 9.3 percent in like-for-like gains; active cosmetics, $400.4 million, up 9.4 percent on a consolidated basis, and direct marketing and others, $56.5 million, up 12.8 percent.
L’Oréal said it had "good sales growth" of 6.4 percent in Western Europe, which rings up a little under half of the firm’s cosmetics sales. By country, growth was 14.4 percent in the U.K., 9 percent in Spain, 5.6 percent in Germany and 4.5 percent in France. "New growth driver countries," including China, Korea, Thailand, Brazil, Mexico and South Africa also made "very substantial advances" in the half.
L’Oréal stock closed on the Paris Bourse Wednesday at a unit price of $69.92, up 2.4 percent on the previous day.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)