Welcome in, today is Monday, August tenth, and we begin with Kenvue's second quarter, reported by Cosmetics Business. Kenvue's second-quarter sales reached three point nine six billion dollars, up three percent year on year but just short of the three point nine seven billion analysts expected, according to Cosmetics Business. That reporting puts adjusted gross margin at sixty point two percent, down from sixty point nine a year earlier, and adjusted operating margin at twenty-two point one, from twenty-two point seven. The company cited inflation, tariffs and unfavourable foreign exchange as offsetting its productivity savings, which puts the cost pass-through question in front of the whole sector. Beauty carried the quarter. Skin Health and Beauty, home to Neutrogena, Aveeno and OGX, generated one point one one billion dollars, up five point one percent, with organic sales up three point seven percent, making it the group's fastest-growing division. The same reporting credits hair care and skin care, e-commerce momentum and launches including OGX Pro Growth and Peptide and Neutrogena Ultra Sheer Sun. Divisional adjusted operating income climbed from one hundred forty-nine million dollars to one hundred eighty-six million, and group net income reached four hundred fifty-six million, from four hundred twenty. All of it sits inside Kimberly-Clark's forty-billion-dollar buyout of Kenvue, per that account. Industry reaction leans toward reading the quarter through portfolio complexity rather than the headline number, with a recurring view that a simplification push is the story to watch. Also today, Shiseido's core operating profit jumped ninety percent in the first half, to forty-four point four billion yen, which the company attributes to its turnaround plan. Cosmetics Business reports net sales of four hundred ninety-nine billion yen, flat on a like-for-like basis over the six months to the end of June, though organic revenue grew in the second quarter. Global Cosmetics News puts reported net sales up six point two percent, with like-for-like down zero point two. The regional split is the real read on whether prestige-house restructuring is converting to earnings. Asia Pacific grew two percent, Japan and China, including travel retail, were flat, and the Americas and EMEA declined one percent on stronger competition and what the company called continued challenges with selected brands. Shiseido says it is steadily progressing towards profitability in the Americas this year, against a nine point five percent decline in that region in twenty twenty-five, per that reporting. Among brands, NARS grew three percent and Clé de Peau Beauté two, with Clé de Peau accelerating to six percent in the quarter, while the Shiseido brand fell three percent and Drunk Elephant declined twelve. Fragrance was the standout, up twelve percent. Reactions lean toward reading the profit jump as margin-led rather than demand-led, with a recurring caution around China and travel retail. Separately, Henkel raised its full-year guidance after organic sales rose three point two percent to ten point three billion euros in the first half, Cosmetics Business reports. Operating profit edged up zero point three percent to one point six two billion euros, while sales on a non-organic basis slipped zero point five percent, to ten point three five billion from ten point four zero a year earlier, with last year's North American retailer-brands divestment weighing and this year's acquisitions contributing. That contribution is where the buy-growth question sits. Per the same reporting, the consumer brands unit posted four point seven billion euros, a nominal decline of three and a half percent, offset by hair care, which includes Schwarzkopf. Global Cosmetics News reports hair delivered four point two percent organic growth in the half, the main growth driver in consumer brands, as the group expanded through the completed Not Your Mother's purchase and its one point four billion dollar deal for Olaplex. By region, Europe's organic sales fell one and a half percent while North America grew two point four. Chief executive Carsten Knobel said organic growth was driven by both business units, each with positive price and volume development. Now, a few more headlines moving the trade today. Glossy reports exclusively that Jupiter, the six-year-old dandruff brand, enters five hundred Ulta Beauty doors this week as the retailer leans further into solution-led hair care. PZ Cussons reports full-year revenue up five point four percent, with strong growth in Africa following the completion of its strategic review of that market, per Cosmetics Business. Cosmetics Business weighs CeraVe's stated goal of becoming a top-five global dermocosmetics sun protection brand after its first sun care launch; that piece leaves the outcome an open question. And finally, Jo Malone London debuts its first gaming collaboration, with Epic Games' Fortnite, promoting the Sea Salt and Bergamot launch, according to Cosmetics Business and WWD Beauty.