L’Oreal CEO Jean-Paul Agon on 3Q Earnings and Surprise Sales

The transcript discusses the impact of COVID-19 on global markets, highlighting regional differences in recovery. It emphasizes the growth of e-commerce as a key factor in offsetting losses from store closures, particularly in the US. The pandemic's effect on makeup sales is noted, with optimism for future recovery. Rising demand for active cosmetics is also discussed, along with L'Oreal's leadership transition, ensuring continuity in its strategic direction.

What is the company's outlook for the second half of the year despite rising COVID-19 cases?

• They expect a negative outcome.

• They are confident in delivering a positive outcome.

• They are unsure about the outcome.

• They expect a neutral outcome.

How has e-commerce impacted the company's strategy during the pandemic?

• It has been insignificant.

• It has been a major growth area.

• It has led to a decline in sales.

• It has remained stable.

Why is the company closing some physical stores in the US?

• To expand into new markets.

• Because of a shift in consumer behavior towards e-commerce.

• Due to high operational costs.

• To focus on luxury products.

What shift in consumer preferences is noted during the pandemic?

• From makeup to skincare.

• From skincare to makeup.

• From luxury to budget products.

• From online to in-store shopping.

What is the company's expectation for the makeup industry post-pandemic?

• It will remain stable.

• It will continue to decline.

• It will shift to online-only sales.

• It will bounce back significantly.

What is the company's strategy for dealing with high demand for active cosmetics?

• Entering new markets.

• Focusing on existing successful brands.

• Reducing production.

• Discontinuing less popular products.

What is emphasized about the leadership transition at L'Oreal?

• It is a complete overhaul.

• It is a smooth transition with continuity.

• It involves hiring from outside the company.

• It focuses on short-term goals.