By Giulia Petroni
L'Oreal SA said Thursday that sales rose in the first quarter of
the year, with three divisions reporting double-digit growth
despite the impact of the coronavirus.
The French cosmetics and consumer-products company said
quarterly sales came in at 7.61 billion euros ($9.11 billion), up
from EUR7.23 billion in the previous year. On a like-for-like
basis, sales increased 10.2%.
L'Oreal's professional-products division reported a 21% organic
sales rise, supported by new trends such as the digitalization of
salons, independent stylists and the e-commerce boom.
The active cosmetics business jumped 28.7% on a like-for-like
basis, gaining market share across geographies, while the luxe
division reported a sales increase of 14.6% like-for-like.
The company said consumer products continued to suffer the
impact of the health measures on the make-up market, with sales
down 0.7% like-for-like.
L'Oreal said first-quarter results outperformed the market and
it is confident it will be able to achieve growth in both sales and
profits in the year.
Write to Giulia Petroni at firstname.lastname@example.org
(END) Dow Jones Newswires
April 15, 2021 12:35 ET (16:35 GMT)
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