L'Oreal 3Q Sales Fell Slightly
23 October 2020 - 4:01AM
Dow Jones News
By Cecilia Butini
L'Oreal SA said Thursday that sales in the third quarter fell
slightly on year, but the group returned to growth after
experiencing supply-chain issues in the first half on account of
the coronavirus pandemic.
The French cosmetics and consumer-products company posted 7.04
billion euros ($8.35 billion) in sales for the period, down from
EUR7.18 billion in the same period a year prior.
North America returned to growth in the quarter, with all
divisions maintaining growth in the e-commerce channel, L'Oreal
said. New markets also returned to growth in the period,
particularly China and Brazil, the company said. In Western Europe,
France, Germany, and the U.K. experienced recovery in the third
quarter, while Spain was negatively affected by slumped summer
tourism, it said.
The consumption of beauty products recovered gradually during
the third quarter in Western Europe, but the make-up category
remains weak, the company added.
L'Oreal aims to achieve like-for-like growth in the second half
of 2020, and to deliver solid profitability, it said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 22, 2020 12:46 ET (16:46 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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