L'Oréal Co. (LRLCY.PK), a leader in the cosmetics and beauty products industry, has announced a 2.8% increase in sales for the third quarter, amounting to 10.285 billion euros compared to the previous year. On a like-for-like basis, the company's sales growth for the quarter was 3.4%.
In terms of specific product categories, professional products saw a revenue increase of 4.8% to 1.162 billion euros. However, consumer products experienced a slight decline of 0.6%, totaling 3.748 billion euros. The L'Oréal Luxe segment enjoyed an 8% rise in revenue, reaching 3.775 billion euros, while revenues from dermatological beauty products decreased by 1.6% to 1.60 billion euros.
Nicolas Hieronimus, CEO of L'Oréal, commented on the performance, stating: "We have achieved a solid growth of 6% in the first nine months of the year, striking a balance between value and volume, despite various challenges that impacted our third quarter."
He added, "As expected, the global beauty market has been stabilizing throughout the year. This adjustment in developed markets is partly due to a gradual easing of pricing pressures following two years of strong inflation. Nevertheless, the market's fundamental trends remain strong across Europe, North America, and emerging markets. The Chinese market, however, has become more complex. We remain optimistic about its potential and anticipate that government measures will boost consumer confidence."
