L'Oreal Q1 sales up 9.4% on strong mass market demand

PARIS -L'Oreal reported a 9.4% rise in first quarter sales on a like-for-like basis on Thursday, beating expectations and shrugging off concerns about a slowdown in the two biggest beauty markets the United States and China.

The sales growth exceeded a consensus of a 6.1% rise cited by analysts at Jefferies. Sales were up 8.3% on a reported basis.

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