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L’Oreal S.A. (OTCPK:LRLCY) reported a rise in its sales in the third quarter, helped by robust demand in Europe, North America and Latin America, despite a fall in sales in North Asia.
LRLCY, which owns brands like Maybelline to Lancome, reported sales for the three months ended September was 10B euros, an increase of 11.1% on a like for like basis, as compared to last year.
Sales grew 16.2% and 11.8% in Europe and North America, respectively, in the quarter,
The company saw a 4.8% fall on a like for like basis in North Asia, as it continued to be impacted by the reset in its travel retail unit after the change in policy regarding selling through personal shoppers who are usually outside China known daigous.
The Paris-based group said sales in Mainland China was broadly stable, and it saw a muted recovery in the region.
“Despite the slower than expected recovery of the beauty market in mainland China and the reset in Asian Travel Retail, L’Oréal kept its double-digit pace,” said CEO Nicolas Hieronimus.
US-listed shares in the company rose 0.12% at $80.41.
