Reporting after the close of the Paris bourse Thursday, the maker of Lancôme, Kiehl’s and Garnier products said its sales for the three months ended Dec. 31 grew 2.8 percent at reported exchange rates to 10.61 billion euros. That represented a 6.9 percent organic rise.“Travel retail is still a bigger drag than expected, but mainland China was possibly in decline as well,” wrote Monteyne.
Division-wise, L’Oréal’s top-line miss was led by Luxe and Consumer Products. L’Oréal Luxe’s organic growth was 0.4 percent, against a consensus of 3.8 percent. L’Oréal’s Consumer Products division’s organic sales of 7.7 percent were under the consensus of 11 percent. Beating expectations were the group’s DermatologicalIn 2023, L’Oréal’s overall sales reached 41.18 billion euros, up 7.6 percent in reported terms and 11 percent on an organic basis.
In 2023, Latin America and the South Asia Pacific, Middle East, North Africa, Sub-Saharan Africa zone posted organic sales advances of 24.4 percent and 23.2 percent, respectively.