L'Oreal sales steam ahead at steady pace in first-quarter

PARIS (Reuters) - Maybelline maker L'Oreal on Tuesday posted higher-than-expected first-quarter sales, powered by growth in the division that makes luxury cosmetics and strong demand in Asian countries like China and India. The French firm said revenues rose 11.4 percent to 7.6 billion euros ($8.58 billion), up 7.7 percent on a like-for-like basis, that strips out the effect of currency swings and acquisitions. That beat the 6.6 percent comparable sales growth forecast in an Infront Data poll of analysts for Reuters, and matched the pace of growth notched up in the last three months of 2018.

Reuters April 17, 2019 00:05:26 IST
L'Oreal sales steam ahead at steady pace in first-quarter

LOreal sales steam ahead at steady pace in firstquarter

PARIS (Reuters) - Maybelline maker L'Oreal on Tuesday posted higher-than-expected first-quarter sales, powered by growth in the division that makes luxury cosmetics and strong demand in Asian countries like China and India.

The French firm said revenues rose 11.4 percent to 7.6 billion euros ($8.58 billion), up 7.7 percent on a like-for-like basis, that strips out the effect of currency swings and acquisitions.

That beat the 6.6 percent comparable sales growth forecast in an Infront Data poll of analysts for Reuters, and matched the pace of growth notched up in the last three months of 2018.

L'Oreal CEO Jean-Paul Agon said in a statement that the economic environment was "volatile, uncertain and contrasted" but that the group was encouraged by its start to the year. It maintained its goal of outperforming the broader beauty market.

($1 = 0.8859 euros)

(Reporting by Sarah White, editing by Dominique Vidalon)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Oil rises 2% as OPEC complies with production cuts
Business

Oil rises 2% as OPEC complies with production cuts

By Jessica Resnick-Ault NEW YORK (Reuters) - Oil prices strengthened on Wednesday, as OPEC and its allies were seen complying with a pact to cut oil supply in September, even as concerns loomed that recovery in fuel demand will be stalled by soaring global coronavirus cases. Early in the day crude was boosted by a bullish stock market. Even as equities whipsawed on pandemic worries, oil stayed higher, buoyed by expectations that OPEC could staunch a supply glut

Tesla's back-to-back price cuts bring sticker on U.S. Model S below $70,000
Business

Tesla's back-to-back price cuts bring sticker on U.S. Model S below $70,000

By Tina Bellon and C Nivedita (Reuters) - Tesla Inc will further cut the price of its Model S "Long Range" sedan in the United States to $69,420, the electric carmaker's chief executive, Elon Musk, announced in a tweet https://bit.ly/2H0JCP0 on Wednesday. The anticipated drop marks the second time this week Tesla has cut the price for the high-end sedan, following a 4% cut of the Model S's price in the United States on Tuesday to $71,990.

Trump cites teenaged son's bout with coronavirus in calling for schools to reopen
World

Trump cites teenaged son's bout with coronavirus in calling for schools to reopen

By Jeff Mason DES MOINES, Iowa (Reuters) - Under siege over his handling of the novel coronavirus pandemic, President Donald Trump on Wednesday cited what he said was his son's mild bout of the virus as a reason why American schools should reopen as soon as possible. Trump made the comment about his son, Barron, as the president swept into Iowa on a mission to shore up support in battleground states that he won in 2016 but is in danger of losing to Democrat Joe Biden barely three weeks before the election. First lady Melania Trump announced in a statement earlier in the day that the virus that struck both her and her husband had also infected their 14-year-old son