The Strategist

L'Oreal sales up 4.4% to €10bn in Q3

10/20/2023 - 03:25

One of the biggest producers of cosmetics worldwide, L'Oreal SA of France, reported in a press release that third-quarter sales rose 4.4% year over year to €10 billion.

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Comparable sales increased by 11.1%.

Almost every division and every operating region of the company saw gains in revenue.

The latest quarter saw 12.9% growth in sales to €3.25 billion in Europe, 5.5% growth to €2.98 billion in North America, 24.9% growth to €844.1 million in Latin America, and 12.4% growth to €885.4 million in the rest of the area. The amount decreased 15.1% to €2.05 billion in North Asia.

The Consumer Products division's revenues increased by 6.3% to €3.77 billion. While skincare sales increased 23.1% to €1.63 billion, professional products sales increased 1.4% to €1.1 billion. Sales of high-end cosmetics fell by 3.2% to €3.5 billion.

The news was released following the conclusion of trading on Thursday, and L'Oreal's share prices increased by 0.8%. Since the start of the year, the company's capitalization has increased by 15.8%, to €204.2 billion, while the CAC 40 stock index has increased by 6.9%.