L’Oreal reports Q3 sales EUR 10.28B, up 3.4% like-for-like

Q3 sales were up 2.8% in reported terms. Sales for the first nine months were EUR 32.4B, up 6% like-for-like and up 6% reported. Commenting on the figures, Nicolas Hieronimus, CEO of L’Oreal (LRLCY), said: “We delivered solid growth of +6% in the first nine months, well-balanced between value and volume, despite multiple turbulences that have negatively impacted our third quarter. As anticipated, global beauty market growth has been normalising throughout the year. In the developed markets, this has been driven by a gradual easing in pricing after two years of strong inflation; despite that, underlying market trends remain robust in Europe, and North America – as well as in emerging markets. The situation in the Chinese ecosystem has become even more challenging, but we believe in the future of this market and hope that the governmental stimulus will help improve consumer confidence.”