Welcome in, today is Thursday, November twelfth, and we begin with Shiseido back in profit, per Cosmetics Business, and one of its acquired brands moving hard the other way. Shiseido's core operating profit rose one hundred twenty-four percent to sixty-seven point five billion yen for the nine months to September, from thirty point one billion a year earlier, per Cosmetics Business. Net sales rose seven percent to seven hundred forty-one point one billion yen, and profit before tax came in at sixty-five point three billion, against a loss of thirty-two point five billion. That account credits Clé de Peau Beauté and the Shiseido brand, and puts core operating profit at nine point one percent of sales, from four point three. CFO Ayako Hirofuji told an investor call that momentum turned, from a three percent sales decline in the first quarter to two percent growth in the second and three in the third. Drunk Elephant went the other way, with global sales down twenty-three percent in the quarter after a fourteen percent decline in the second, which the same reporting ties to what Shiseido called severe underperformance in US e-commerce. The recovery is sitting in the core brands, not the acquired one. Separately, the Australian department store chain David Jones has entered voluntary administration after one hundred and eighty-eight years of trading, according to Global Cosmetics News. That report puts roughly six thousand jobs at risk and leaves the future of the chain's premium cosmetics and fragrance operations uncertain. No outcome has been announced. This is one of Australia's largest prestige beauty door networks, so administrators' calls on closures, counter space and supplier terms read through to local distribution and receivables for cosmetics and fragrance houses. Industry reaction leans sceptical that public affection for the brand ever translated into everyday trading support, and a recurring concern in the channel is that the warning signs were visible months before the filing. Also today, Ulta Beauty is putting health trackers on beauty shelves. Glossy reported first that Oura's Ring Five enters one thousand US Ulta stores, and that CEO Kecia Steelman has framed wearables as a potential next billion-dollar category for the retailer. Chosun Ilbo puts the in-store date at the twenty-second, with prices from three hundred and ninety-nine dollars and fitting spaces for ring sizing. That account calls it Oura's first tie-up with a US beauty specialty retailer, and says Ulta will add Whoop devices from March twenty twenty-seven. Floor space on that scale is a signal to every brand competing in the same doors. Some in the trade read the placement as a discovery channel more than a sales one. Now, a wider read on the quarter. WWD Beauty argues the season's good news came from two places, dermocosmetics and China. Following our earlier reporting on L'Oréal's nine-month numbers, that read puts the group's Dermatological Beauty division level with Professional Products as its fastest grower, up thirteen point nine percent like-for-like in the quarter, with La Roche-Posay, CeraVe and SkinCeuticals each in double digits. The same argument points to Puig taking the remaining half of Isdin for one point two billion euros, and Beiersdorf's derma business up ten point six percent organically. On China, it cites Estée Lauder country sales up nine percent and Procter and Gamble's Greater China organic sales up eight. Those are the two assumptions rivals will build twenty twenty-seven budgets against. Reaction clusters on composition, with some practitioners reading treatment-led skin health, rather than colour cosmetics, as carrying the quarter. Now, a few more headlines moving the trade today. Glow Recipe is ending nearly a decade of US Sephora exclusivity, reaching one thousand Ulta doors on December sixth, per WWD Beauty. CJ Olive Young plans seven US stores by the first half of twenty twenty-seven, the new sites across greater Los Angeles and San Diego, per Global Cosmetics News. Nykaa's second-quarter revenue rose twenty-eight percent to thirty point zero six billion rupees, with net profit up two hundred and seven percent, per Global Cosmetics News. Coty has proposed adapting its France operating model under Coty Curated, with one hundred and fifty-five of about two hundred roles there proposed for cut, per Cosmetics Business. Maybelline New York is revising "Maybe she's born with it" for the first time since nineteen ninety-one, a change global president Sandrine Jolly ties to what women need today, per WWD Beauty. And finally, the National Advertising Division has backed Dove's twenty-four-hour moisturisation claims for Deep Moisture Body Wash, after a Procter and Gamble challenge, per Cosmetics Business.