PARIS (Reuters) - French cosmetics group L‘Oreal (OREP.PA) has lowered its forecast for the market this year to around 3.5 percent from a previous range of 3.5 to 4 percent, a spokeswoman said on Friday.
Shares in L‘Oreal extended their declines, falling around 3.6 percent.
Asked about market talk concerning forecasts for the group’s own performance, the spokeswoman said: “There was no warning on sales.”
A Paris-based trader had told Reuters there was market talk that L‘Oreal had issued a sales warning at road shows in London and Paris earlier this week because of concerns about a slowdown in China.
L‘Oreal said on July 30 that it expects sales growth to accelerate in the second half as demand in Western Europe and the United States improves.
Reporting by Alexandre Boksenbaum-Granier; Editing by Andrew Callus