Puig, which listed in Madrid in Might, mentioned on Thursday the withdrawal was anticipated to affect efficiency of its make-up section, however was not anticipated to have a “materials” affect on its total full-year efficiency.
The corporate mentioned {that a} routine product testing discovered an remoted high quality problem in a restricted variety of batches, which didn’t make the product unsafe.
It added that no different Charlotte Tilbury merchandise have been affected.
Make-up and skincare model Charlotte Tilbury, recognized for its “Pillow Speak” make-up assortment, was one in every of Puig’s high three manufacturers final yr, in response to its annual report.
Make-up contributed 18 p.c of its web earnings in 2023, whereas skincare accounted for 10 p.c.
JPMorgan analysts mentioned the withdrawal may have as a lot as mid single digit extra affect on make-up like-for-like progress within the fourth quarter.
They added there could possibly be a possible spillover into the primary quarter of 2025, relying on the pace of product alternative.
The agency, which additionally owns fragrance manufacturers Rabanne, Carolina Herrera and Jean Paul Gaultier, mentioned it was assured in attaining its targets for 2024, together with a steady EBITDA margin in contrast with 2023.
Shares fell as a lot as 9 p.c however recovered some losses and by 0902 GMT have been down 3.5 p.c, amongst high fallers on the Europe-wide STOXX 600 index.
By Anna Pruchnicka
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Puig Posts 11% Rise in Third-Quarter Gross sales, Beats Expectations
Spanish trend and perfumes firm Puig reported an 11 p.c rise in third-quarter gross sales on Tuesday, beating analysts’ expectations after sector rivals posted disappointing outcomes attributable to decrease demand in China.
