L’Oréal sales climbed 13 per cent like-for-like to €10.38 billion in the first quarter, the company said on Wednesday — beating analyst expectations of 7.1 per cent despite ongoing setbacks in China. North Asia sales were up 1.9 per cent versus a 7.3 per cent consensus. LVMH’s Perfumes & Cosmetics division reported 10 per cent organic sales growth to €2.1 billion in the first quarter, while L’Oréal competitor Estée Lauder Companies is to report its third-quarter earnings on 3 May. By categories, sales of makeup and fragrances grew in the “mid-teens” while hair and skin “are also dynamic but to a lesser extent”, Hieronimus noted. Fragrances follow the same pattern.” (L’Oréal executives had predicted the “Roaring Twenties” style “makeup fiesta” after the pandemic during the company’s annual earnings call in February 2021.)

Source: The North Africa Journal April 19, 2023 20:16 UTC