FRANCE: L’Oreal reports Q1 growth despite slowdown in Europe | Progresiv
L'Oreal has reported a strong rise in sales for its first quarter, despite a slowdown in sales across western Europe. The cosmetics giant saw its sales jump up 14.1% to 6.44 billion euros, topping estimates, as international revenues were boosted by the decline of the euro. Sales were up 5.2% on a constant-currency basis, and were up 4% on a like-for-like basis. 
The mass consumer goods unit recorded a 1.7% rise in sales for the quarter, a slowdown from the 3% growth recorded in the fourth quarter, while luxury good sales were up 7.5%, compared to an 8.6% rise. L’Oreal noted that growth in western Europe had slowed, but sales continued to rise in North America and emerging markets.
The group it does not plan to changes its prices in North America, despite the strength of the euro, adding that it expects growth to come “from an acceleration of the consumer division”. It added: “In an economic context that is still volatile, we confirm that we are confident in our ability to outperform the market this year, once again, and to achieve growth in sales and profit”. (www.kamcity.com)
