08.09.24
Shiseido reported a drop in shares following its first-half earnings due to restructuring costs and a lowered demand in China. Shiseido’s structural reform costs also affected its financial results.
Company shares fell 39.1% year-to-date, and Shiseido’s stock dropped roughly 15.5% on Thursday at the close of the Tokyo Stock Exchange.
On Wednesday, Shiseido reported an operating loss of $18.44 million in the first six months of 2024, compared to a $92 million profit in the previous year.
However, Shiseido is not the only company affected by stalled business in China. L’Oréal also reported a loss in sales in North Asia during the first half of the year.
The slump in sales in China is reportedly caused by changes in purchasing behaviors.
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Company shares fell 39.1% year-to-date, and Shiseido’s stock dropped roughly 15.5% on Thursday at the close of the Tokyo Stock Exchange.
On Wednesday, Shiseido reported an operating loss of $18.44 million in the first six months of 2024, compared to a $92 million profit in the previous year.
However, Shiseido is not the only company affected by stalled business in China. L’Oréal also reported a loss in sales in North Asia during the first half of the year.
The slump in sales in China is reportedly caused by changes in purchasing behaviors.
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