L’Oreal reports 14 percent increase in first-quarter sales
World’s largest beauty group L’Oreal posted a 14.1 percent rise in first-quarter sales , helped by the weak euro and resilient demand for luxury goods products such as Yves Saint Laurent’s Black Opium perfume. The maker of Garnier shampoo and Maybelline make-up said the market for mass consumer goods had declined slightly in Western Europe but was still growing moderately in North America.
Sales growth at L’Oreal’s mass consumer goods business slowed to 1.7 percent on a like-for-like basis in the three months to March 31, down from 3 percent in the previous quarter, while sales growth for luxury products slowed to 7.5 percent from 8.6 percent.
Overall, L’Oreal generated quarterly sales of 6.44 billion euros ($6.93 billion), up 4 percent on a like-for-like basis and 5.2 percent at constant exchange rates.