L’Oreal reports Q3 sales EUR 10.33B, up 0.5% on reported basis

Reports Q3 like for like sales up 4.2%. In the first nine months, sales amounted to EUR 32.8B, up +1.2% reported. Like-for-like, i.e., based on a comparable structure and identical exchange rates, sales grew by +3.4%. Nicolas Hieronimus, CEO of L’Oreal (LRLCY), said: “Progress was broad-based. All regions contributed: the recovery in our two largest markets – the US and mainland China – continued; in a solid market, Europe remained robust; and ongoing strength in SAPMENA-SSA more than offset the softness in Latin America. Growth accelerated across all Divisions, as the weight of new launches further increased in the third quarter fuelled by our Beauty Stimulus Plan. The global beauty market remains dynamic with a progressive improvement in luxury. Our strength online allows us to outperform what is today the most dynamic channel. We just announced a strategic alliance with Kering, one of the world’s most creative and visionary luxury groups. I am delighted by this partnership: the acquisition of Creed will make us one of the leading players in niche fragrances; and I see enormous potential for growth for the beauty and fragrance licenses of Gucci, Bottega Veneta and Balenciaga, all truly exceptional couture brands. This partnership will further solidify our position as the world’s leading luxury beauty company.”