Gold prices rise from 2-wk low with focus on Russia-Ukraine, Jackson Hole
* Third-quarter revenue falls YOY
* Says fake tan St Tropez hit hard by social distancing
* Demand for soaps, sanitisers surge - Cussons
(Adds quote, background on St Tropez)
April 16 (Reuters) - Beauty products maker PZ Cussons
PZC.L is seeing a surge in demand for its Carex hand wash,
sanitiser gels and Imperial Leather soap due to the coronavirus
pandemic, while facing a slowdown in its fake tan brand St
Tropez.
PZ Cussons said St Tropez, which has been namechecked by Kim
Kardashian and other social media influencers, has been hit hard
by the social distancing measures in place in Britain, the
United States and across Europe.
"Our significant marketing activities planned for Q4 have
been cancelled and we expect this business to be slow to
recover," the company said.
The British company's personal care business, which includes
beauty, made up almost 60% of group revenue last year. St Tropez
was a big driver of beauty revenue, with sales in the United
States up by 30% in 2019.
It pointed to a slow recovery in the beauty business as
retailers are now stocking up on hygiene and personal care
products rather than cosmetics.
"Our full year profit guidance remains within consensus
range, albeit at the lower end," PZ Cussons, which recently
hired Avon Products executive Jonathan Myers as its new CEO,
said.
The company's shares were trading 1% lower at 177.9 pence by
0749 GMT.
The group reported a fall in overall revenue in the third
quarter ended Feb. 29 year-on-year and said the impact of the
coronavirus and the restrictions imposed to prevent its spread
remained significant.
PZ Cussons' key manufacturing sites around the world remain
open, despite the restrictions, it said.