L’Oreal reports Q1 sales up 9.4% on like-for-like basis

L’Oreal reports Q1 sales of EUR 11.24B, up 9.4% on a like-for-like basis 8.3% on a reported basis. The company said, “First quarter sales included a positive 130 million euro phasing impact ahead of the implementation of new IT systems in North America. Adjusted like-for-like growth amounted to a strong +8.1%…Continued outperformance in a global beauty market that remained dynamic.” It added, “2024 is off to a very good start with like-for-like growth of +9.4%, perfectly illustrating the power of our unique model. We are a pure player in beauty, a category that has once again proven its relentless growth capacity. Our multipolar approach to beauty – from luxury to mass, professional to dermatological, in all channels, all price points, and all geographies – allows us to seize all growth opportunities and offset temporary points of softness.”