Beauty Packaging Staff04.01.20
Due to circumstances linked to the Covid-19 epidemic, the Board of Directors of L’Oréal decided to postpone the Annual General Meeting, initially scheduled for the 21st of April, to 30th June 2020.
The Board of Directors will in due course determine the arrangements to be made for the holding of the Meeting, as well as for the dividend and its date of payment.
2020 Outlook
According to the company, the spread of the pandemic to all geographic areas, and the measures taken by various countries in terms of store closures and the containment of consumers, will have a higher impact than initially forecasted on the consumption of cosmetics and beauty products, and therefore on L’Oréal’s business in the coming months, even if it is currently seeing encouraging signs of recovery in Chinese consumption.
All L’Oréal teams are mobilized to enable the company to traverse this unprecedented crisis, and to re-accelerate as soon as conditions permit in each geographic Zone.
“Our priority in this difficult period is to ensure the welfare of our employees and our partners. The lack of visibility on the timing of an end to this health crisis leads us to suspend our guidance. The Group will provide more information when it publishes its first quarter sales on 16 April 2020, and notes that sales over that period should evolve around -5% compared to last year,” read a statement from the company.
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The Board of Directors will in due course determine the arrangements to be made for the holding of the Meeting, as well as for the dividend and its date of payment.
2020 Outlook
According to the company, the spread of the pandemic to all geographic areas, and the measures taken by various countries in terms of store closures and the containment of consumers, will have a higher impact than initially forecasted on the consumption of cosmetics and beauty products, and therefore on L’Oréal’s business in the coming months, even if it is currently seeing encouraging signs of recovery in Chinese consumption.
All L’Oréal teams are mobilized to enable the company to traverse this unprecedented crisis, and to re-accelerate as soon as conditions permit in each geographic Zone.
“Our priority in this difficult period is to ensure the welfare of our employees and our partners. The lack of visibility on the timing of an end to this health crisis leads us to suspend our guidance. The Group will provide more information when it publishes its first quarter sales on 16 April 2020, and notes that sales over that period should evolve around -5% compared to last year,” read a statement from the company.
More Coronavirus News
Here’s a look at what Beauty Packaging’s Top 20 Global Beauty Companies are doing to reduce the spread of coronavirus and how the epidemic will impact business in Q1 and beyond.
