Beiersdorf cuts profit forecast and speeds up Nivea turnaround

German cosmetics giant Beiersdorf announced on Monday, August 3, a downgrade to its full-year outlook, following a slower-than-expected recovery of its flagship Nivea brand. The company said it will now accelerate its turnaround efforts for the iconic label. In the first half of the year, Beiersdorf's Derma business, comprising the Eucerin and Aquaphor brands, once again outperformed, delivering 7.8% organic sales growth, driven by innovation and expansion into new market segments. In...