L'Oreal Co Eur Ord (LRLCF) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.197 wins, but could you also consider some pricing actions in the back 00:00:05.197 -- 00:00:09.042 half of the year should these higher prices persist? 00:00:09.042 -- 00:00:14.209 Thank you very much. All right. So, Guillaume, beauty market growth, and again, apologies 00:00:14.209 -- 00:00:19.375 for the glitch in the beginning. We estimate the markets in the first quarter 00:00:19.375 -- 00:00:24.481 to be shy of 4% growth, so it's likely to be 0.38 or something like 00:00:24.481 -- 00:00:30.024 that, but as you know, we don't have all the sellout data, but it's So 00:00:30.024 -- 00:00:33.850 more or less on the same pace than 00:00:33.850 -- 00:00:36.815 the second half of last year. So it remains dynamic. 00:00:36.815 -- 00:00:42.264 And as I said earlier, we have been paying a lot of attention on 00:00:42.264 -- 00:00:45.590 the recent weeks to see whether there 00:00:45.590 -- 00:00:50.859 was any impact on consumer behaviors of the increase in gas prices 00:00:50.859 -- 00:00:52.859 or 00:00:53.403 -- 00:00:57.897 for people where they have have to fuel their car tanks with. 00:00:57.897 -- 00:01:02.522 And we have seen absolutely no change in 00:01:02.522 -- 00:01:06.046 beauty consumption patterns. 00:01:06.046 -- 00:01:08.990 So that's the answer 00:01:08.990 -- 00:01:12.214 to your first question. As far as the 00:01:12.214 -- 00:01:15.878 US market of North America is concerned, 00:01:15.878 -- 00:01:17.340 first 00:01:17.340 -- 00:01:19.542 of all, what is 00:01:19.542 -- 00:01:24.710 important, as you know, our growth is Once adjusted of the IT 00:01:24.710 -- 00:01:30.694 transformation is a plus seven point six. So it's indeed one of our best growth 00:01:31.516 -- 00:01:36.962 In a while and with a little bit of dis...