Puig's quarterly sales rise a steady 8%
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Puig reported 1.09 billion euros ($1.27 billion) in sales during the second quarter, in keeping with the 1.1 billion euros forecast by analysts in an LSEG poll, and achieving the same magnitude of revenue increase year-on-year as in the previous quarter.
The Barcelona-based group confirmed that it expects revenue growth to decelerate to between 6% and 8% in 2025 after an 11% increase in 2024, as it navigates the challenge of expected higher tariffs in the United States, one of its biggest markets.
Chairman and CEO Marc Puig said during a call with analysts that whatever tariffs will be, the impact this year "will be relatively minor because most of the stock is already in the United States".
Sales in the Americas rose 10% in the quarter, despite trade tensions stemming from an initial 10% increase in U.S. tariffs and Washington's promise of more levies, while sales in Asia improved by 19.5%. Still, the EMEA region remains its main market.
Puig has priced the additional 10% U.S. tariff into its annual sales projection.
U.S. President Donald Trump on Saturday threatened to impose a 30% tariff on imports from the European Union starting on August 1, escalating trade tensions that may affect major beauty industry players such as L'Oreal, opens new tab and Estee Lauder, opens new tab, alongside other sectors such as European wine or clothing.
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