Paris, April 18 (Financeflashnews) – French cosmetics giant L’Oréal surpassed expectations and reported nearly 10% sales growth in the first quarter, easing concerns about key markets like China and the Americas.
The company, which owns brands like Maybelline and Lancôme, said on Thursday that it achieved sales of €11.24 billion for the first three months of 2024. This represents an 8.3% increase compared to the same period last year. When factoring out acquisitions and currency fluctuations (like-for-like sales), growth climbed to 9.4%, exceeding analyst expectations polled by Jefferies who anticipated a 6.1% increase.
L’Oréal performed well across all its key markets. In Europe and North America, sales surged by over 12%, while China also saw solid growth with a 6.2% increase.
