LRLCY Loreal Co (PK)

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)

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