L’Oreal Sales Surge on Rising Cosmetics Demand in Europe, US
- French cosmetics group says 2024 off to a ‘very good start’
- Company shares surge more than 6% amid easing China fears
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L’Oréal SA stock surged Friday after reporting better-than-expected first-quarter sales as strength in Europe and North America helped offset a slowdown in shopping by Chinese travelers.
Shares of the French cosmetics group, which owns Lancôme, rose as much as 6% in early trading in London after like-for-like sales rose 9.4% in the first three months of the year, helped by strong demand for its mainstream consumer and dermatological products. The increase was well ahead of analysts’ average expectation of a 6.6% rise.