L’Oreal tops estimates with Q3 gains | Progresiv
L’Oreal has reported better-than-expected sales growth for its fiscal third quarter, helped in particularly by gains in North America. For the three months to 30 September, sales were up 4% to 5.95 billion euros (+5.6% like-for-like), easily outpacing analysts’ forecasts. 
The Consumer Products unit recorded a 2.1% increase to 2.86 billion euros (+4.7% LFL), the Luxe division reported growth of 9.0% to 1.86 billion euros (+9.3% LFL), while the Active Cosmetics unit reported growth of 4% to 425.7 million euros (+6.5% LFL). However, the Professional Products unit registered a 0.3% decline to 808.5 million euros (+0.9% LFL).
The cosmetics giant said growth was driven by a “substantial acceleration”, and increased global demand for its make-up brands. CEO Jean-Paul Agon noted: “The make-up market, whether mass or luxury, is really booming. There is a momentum effect on all make-up brands.”
However, the group continued to suffer in its home market, as lower tourist numbers hurt sales, with Agon admitting: “France has been a hard and disappointing market this year”. (www.kamcity.com)
