L'Oréal announced on Monday that it predicts a year-over-year decrease of around 5% in its first-quarter sales due to the ongoing Covid-19 pandemic. The company also withdrew its annual financial guidance.
The American cosmetics retailer announced on Monday that it will be paying workers in its distribution centers a $2-per-hour wage premium to thank them for their continued work during the ongoing Covid-19 pandemic.
The coronavirus pandemic is dominating most consumers’ and businesses’ thinking at the moment, but companies and market analysts are still looking to a post-coronavirus world in which other subjects come to the fore.
The arrangement aims to ensure that those who are unable to work continue to receive full pay. This includes people who have tested positive, those who have to self isolate and parents who are unable to work remotely.
The American cosmetics conglomerate has reported that it expects to see a 20% decline in sales in Q3 and also announced a series of measures it is implementing to counteract the effects of the ongoing health crisis.
Luxury group LVMH said Sunday that it would begin producing sanitising hand gel at three of its perfume and cosmetics sites in France, for distribution to French hospitals fighting the country's coronavirus outbreak.
The beauty retailer announced solid growth in its fourth-quarter and full-year 2019 sales and earnings on Thursday and provided an update on the measures it is taking in its stores to deal with the coronavirus pandemic.
Store upgrades may not be the most exciting news stories, but they are interesting when those upgrades are reflective of strong trends in the market as with the Jo Malone upgrade as St David's in Cardiff.