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L’Oreal Sales Jump as Shoppers Buy Perfume, Pricey Skin Creams

  • CFO Babule warns inflation will weigh on gross margin
  • L’Oreal CEO confident to boost sales, profits this year
    

    

Photographer: Alessandra Benedetti/Bloomberg

Updated on

L’Oreal SA sales climbed as the cosmetics giant benefited from higher demand for its luxury products, weathering virus restrictions in China.

Sales rose almost 14% on a like-for-like basis in the first quarter, the French company said late Tuesday, beating analyst estimates. Three of the four main divisions grew by double-digit percentages. The stock advanced as much as 2.8% Wednesday and traded up 0.8% at 9:07 a.m. Paris time.