L'Oreal Achieves 6.3% Quarterly Sales Growth Exceeding Expectations
Quarterly Financial Performance Overview
Sales Growth Driven by Product Demand
PARIS, July 29 (Reuters) - L'Oreal reported a 6.3% rise in second-quarter sales on Wednesday, slightly higher than expected, driven by strong demand for its premium haircare as well as mass market brands.
Key Brands Contributing to Growth
The Paris-based maker of CeraVe skincare, Maybelline make-up and Valentino perfume said sales for the three months to end-June came to €11.6 billion ($13.21 billion), up 6.3% on a like-for-like basis after adjustment for the phasing in of its new IT system.
Analyst Expectations and Market Reaction
That was above expectations of 5.7% growth in a consensus of analysts provided by Visible Alpha.
Reporting Credits
(Reporting by Dominique Patton; editing by Barbara Lewis)
