L'Oreal's Sales Take a Dive, Asia Not Lovin' it!

L'Oreal's Sales Fall Short

Hey everyone! Looks like L'Oreal is having a bad hair day. Their sales fell lower than a cowlick on Friday and their shares took a nosedive. Turns out demand in Asia ain't as hot as Sriracha sauce!

Not So Pretty Numbers

So L'Oreal reported their fourth quarter sales and let's just say it didn't make heads turn. Sales only rose 2.8% to 10.6 billion euros falling way short of what Barclays expected. It's like a bad haircut you can't fix.

Blame It on China

China oh China. Sales in North Asia including China dropped a whopping 6.2% in just three months. Ouch! Looks like the dragon's breath is a little too hot for L'Oreal right now.

Hermes to the Rescue

But hey not all luxury brands are feeling the heat. Hermes the fancy French fashion house is still getting the big bucks. They reported a surge in sales thanks to all those rich folks buying their exclusive Birkin handbags and silk scarves. It seems money can buy you happiness!

Pricey Perks

So here's the deal. Hermes execs are like "Hey our stuff is so fancy we gotta jack up the prices." They plan to raise product prices by 8% to 9% in 2024. I guess being exclusive comes at a cost!

Stocks and Style

It's a fashion face off! Hermes stock is rocking a 13% increase this year leaving Louis Vuitton Moët Hennessy (LVMH) in its stylish dust with just an 11% gain. But hey poor old Burberry is down 8%. Talk about being out of style!