(BFM Stock Exchange) – COTY collapsed by 16.5% in post -market exchanges Wednesday evening after having published growth and disappointing prospects. Estée Lauder, for its part, given its action to drop by 3.7%, weighted by several blackheads in its results. The lessons to be learned for L’Oréal are “at best mixed”, judge UBS.

If L’Oréal spent with a certain brilliance the test of half -yearly results, at the end of July, by delivering encouraging indications on the acceleration of its growth for the second part of the year, difficult to say the same for its big rivals.

The German Beiersdorf, notably known for its Nivea and Labello brands, had already frozen investors, falling by 8.4% on August 6 after announcing disappointing sales in the second quarter and lowered its prospects for the current exercise.

The American comparables of L’Oréal, namely Estée Lauder and Coty, two groups of perfumes and cosmetics, hardly know better fortune.

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Estée Lauder does not meet expectations

Wednesday, Estée Lauder (Balmain, Mac, Tom Ford) saw its action to fall by 3.7% after having communicated the results of the fourth quarter of its 2024-2025 exercise, closed at the end of June, and delivered its objectives for the current exercise.

The company has published a drop in sales more pronounced than expected by consensus (the average forecast of analysts), with a decline of 13% in comparable data against 12% expected. The company has suffered particularly in China and in the “Travel Retail” (sales of parliament at airports). Its performance in the “Americas” zone continues, moreover, to be dull with a drop in revenues of 5% in comparable data.

For the next fiscal year, the company is counting on turnover up 0% to 3% in comparable data.

“The results of the fourth quarter, which were not as solid as some had planned, weighed on the action today (Wednesday, note),” said Deutsche Bank. “As well as offsets between the level of shipments and that of sales to consumers in North America (which will last until the first quarter of the year ended in 2026), the signs of an increase in market weakness in Europe, a higher tax rate than it would have been for the year ended in 2026 (around 36%) and cash flows for the next year restructuring “, lists the German establishment.

Coty will suffer again in the coming months

Wednesday evening after the fence of Wall Street, Coty in turn published the results of the fourth quarter of its 2025-2026 exercise as well as its prospects.

The group known for its beauty articles (Bourjois makeup, Lancaster creams) and its license scents (David Beckham, Hugo Boss, Burberry, Davidoff), was heavily punished.

The title has lost 16.5% in post-market trade in Wall Street and the action is struggling to display a course on the Paris Stock Exchange, where Coty is also listed.

COTY saw her income drop by 9% in comparable data over the last quarter of her exercise and has accused a loss per share of 5 cents.

The company had indicated to count on a decline in its sales “High Single Digit”, that is to say from 6% to 9%. The company notably mentioned “unfavorable winds” in the United States and “pressures” on consumer cosmetics.

In terms of its prospects, Coty said Table for the first quarter of its 2025-2026 fiscal year on a decline in its sales of 6% to 8% in comparable data, while the consensus awaited a decrease of 2.8% according to Bloomberg, then from 3% to 5% in the second quarter before a return to growth planned for the second half of the same exercise.

“Consumers’ demand for beauty products remains solid, especially for perfumes, all prices and formats combined. At the same time, macroeconomic and general price uncertainty feeds prudence of retailers in their orders and a more promotional competitive environment,” said the company.

Coty has notably pointed out destocking among distributors, which result in an important gap between the “Sell-in” (sales of a producer to a distributor) and the “saddle” (sales to the final consumer), even if this gap begins to be reduced.

L’Oréal faced with a more unpredictable market

On the Paris Stock Exchange, Action L’Oréal is somewhat weighted by the publications of its American rivals. The title lost 1.44% around 11:20 am, accusing one of the most pronounced folds on the CAC 40.

For UBS, the lessons to be learned for L’Oréal from Coty and Estée Lauder announcements are “at best mixed”.

The Swiss bank recalls that the group derives approximately 37% of its income from perfumes and makeup.

“On the one hand, L’Oréal clearly surpasses Estée Lauder and Coty, which testifies to an execution constantly stronger compared to its peers, with additional progress expected in the second half, L’Oréal increasing the number of launches of new products,” observes UBS.

“On the other hand, the prospects provided by Estée Lauder and Coty recall that the beauty industry has become more volatile and unpredictable compared to previous years, that the sudden adjustments of the retailers can give rise to significant differences between the ‘Selll-in’ and the ‘Sell-out’ and, on the whole, that the competition continues to intensify”, adds the Swiss establishment.

Recall that L’Oréal will have to accelerate its growth on the second part of 2025 to be up to the hopes aroused by its latest publication with investors.

The design offices are optimistic on the subject, HSBC tabling on a growth of 5% in comparable data for the group in the second half, after 3% in the first, while UBS retains a rate of 5.5%.

But the two banks agree that this acceleration will not be enough to bring the L’Oréal title more, because the market has already integrated it.