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

Investor webinar replay

Replay transcript excerpt

wins, but could you also consider some pricing actions in the back half of the year should these higher prices persist? Thank you very much. All right. So, Guillaume, beauty market growth, and again, apologies for the glitch in the beginning. We estimate the markets in the first quarter to be shy of 4% growth, so it's likely to be 0.38 or something like that, but as you know, we don't have all the sellout data, but it's So more or less on the same pace than the second half of last year. So it remains dynamic. And as I said earlier, we have been paying a lot of attention on the recent weeks to see whether there was any impact on consumer behaviors of the increase in gas prices or for people where they have have to fuel their car tanks with. And we have seen absolutely no change in beauty consumption patterns. So that's the answer to your first question. As far as the US market of North America is concerned, first of all, what is important, as you know, our growth is Once adjusted of the IT transformation is a plus seven point six. So it's indeed one of our best growth In a while and with a little bit of discrepancy between selling and sell-out because our sell-out is actually higher than our sell-in We clearly outperform the market Big time I must say CPD in sell-out is really really doing great because it's low double digits in sell-outs, which is great, with hair care on fire. And the reason why we're a bit behind in sell-in, which is one of the explanations why our consumer product decision is a bit below some of the expectations, is the fact that we had kind of the perfect storm in the U.S. without play on words because we had, on the one hand, a sell-out that's really going really, really strong, particularly in hair care, but overall across all categories. We ar...