L’Oreal Sales Hurt by Deepening Demand Slowdown in China
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- Unit that includes CeraVe disappointed on lack of launches
A L'Oreal store on Nanjing Road in Shanghai.
Photographer: Wang Gang/VCG/Getty ImagesThis article is for subscribers only.
L’Oreal SA posted disappointing sales last quarter as the beauty company suffers from worsening consumer demand in China.
Like-for-like sales in North Asia, which includes China, fell 6.5% in the third quarter, L’Oreal said in a statement Tuesday. Analysts surveyed by Bloomberg had expected a gain. The decline marks the fifth straight quarter of falling sales in the region.