L'Oreal banks on cosmetics bounceback, citing Chinese pick-up

PARIS (Reuters) - Maybelline make-up manufacturer L'Oreal said on Thursday it was counting on a quick recovery in cosmetics demand once global lockdowns to combat the coronavirus pandemic ease, pointing to a recovery already under way in China. The French group posted a 5% fall in comparable first quarter revenue, broadly in line with its latest guidance, after lockdowns in China and elsewhere to fight the outbreak hit demand and sparked store closures. The shutdowns were replicated in Europe..