Bullish About Beauty: L?Oreal Boosts Outlook as Net Rises 8.4%
September 8th, 2007The French beauty giant seems poised to post its 23rd consecutive year of double-digit earnings per share growth in 2007, according to its chief executive officer Jean-Paul Agon. He also raised the company’s organic sales growth target range to 7 to 8 percent, from 6 to 8 percent, for the year — his first one fully at the helm.
Agon became L’Oréal’s ceo in April 2006. Since then, he has increasingly put his imprint on the job and how the company does business. His flexible, wide-ranging focus includes everything from emerging markets — such as China, India, Russia, Brazil and Mexico — to new avenues of growth in the masstige and “bio-organic” categories of products in its sights. There have also been recent acquisitions in the salon distributor category in the U.S. to help broaden the business.
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