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Luxury Cosmetics Drive Sales At L'Oreal In First Quarter

Published on Apr 13 2018 8:58 AM in A-Brands tagged: Featured Post / France / beauty / L'oreal / cosmetics / Paywall

Luxury Cosmetics Drive Sales At L'Oreal In First Quarter

France's L'Oréal, maker of Maybelline and Lancome beauty products, has reported better-than-expected like-for-like sales growth for the first quarter, driven by its thriving luxury unit and demand in Asia.

The world's biggest cosmetics firm said sales between January and March reached €6.78 billion, a touch above the €6.75 billion forecast by analysts polled by Inquiry Financial for Reuters.

Like-for-like revenue growth, which strips out the effect of currency swings and acquisitions or disposals, was 6.8%, well above expectations of 5.6%.

On a reported basis, revenue was down 1% from a year earlier, L'Oréal said, as currency effects bit due to a strong euro.

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