L'Oréal saw its sales rise 4.7% on a like-for-like basis during 2016 to reach €25.84 billion, with an operating profit of €4.54 billion.
All of its divisions recorded growth for the year, with L'Oréal Luxe growing the most on a like-for-like basis (6.9%). The company’s e-commerce sales rocketed by 33%.
The group's Active Cosmetics Division also performed robustly, with market share gained in all territories, while its Consumer Products Division, “driven by its successful strategic choices, saw a clear acceleration in sales and outperformed its market,” said company CEO Jean-Paul Agon.
In terms of different geographical regions, "L'Oréal has accelerated sales and increased its lead in North America," Agon added. "The Group has further accentuated its leadership in Europe, outperforming the market despite the difficult situation in France.
“In terms of results, operating margin and cash flows have set new records, confirming that our business model is set to deliver robust performance and create significant value.”
Agon added that L'Oréal’s “strategic acquisition of IT Cosmetics, and the one in progress of CeraVe, strengthen our unique portfolio of brands and will more than ever enable us to meet our consumers' beauty aspirations.
“As part of this brand portfolio optimisation, it has been decided to explore all strategic options regarding The Body Shop's ownership in order to give it the best opportunities and full ability to continue its development. No decision has been taken so far.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up to ESM: The European Supermarket Magazine