L’Oréal’s sales have grown, but not as significantly as expected.
The French cosmetics company L’Oréal reported sales growth for the third quarter, but the pace fell short of expectations, largely due to weakening demand in China. This was reported by Reuters.
The company announced that comparable sales, excluding currency effects, reached €10.28 billion from July to September, reflecting a 3.4% year-on-year increase. However, this fell below analysts’ forecasts, who had anticipated a 6% rise.
Sales performance in North Asia was a key factor, with a decline of 6.5% in the region. This marked an acceleration in the slowdown, following a 2.4% year-on-year decrease in the second quarter.
Sales in Europe also showed slower growth. While sales did increase, the growth rate slowed to 5.6% year-on-year, down from 9.7% in the second quarter.
