From Dow Jones & Company:

L’Occitane’s shares saw a sharp increase after reporting strong sales in the nine months ended December. The European beauty products retailer’s stock rose 6.7% to 24.65 Hong Kong dollars (US$3.15), the largest gain since November. Sales are expected to have grown to 1.915 billion euros (US$2.08 billion) from EUR1.61 billion a year earlier, driven by the successful performance of the Sol de Janeiro brand and the recovery of the Elemis line. Analysts believe that the company’s business is normalizing post-pandemic, with retail and online sales both experiencing growth. Citi analysts expect the company’s business to largely be back to normal in FY 2024 and FY 2025 and have raised their target price for the stock.



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