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By Cristina Roca
L'Oreal SA (OR.FR) said Tuesday that its sales for the third quarter rose strongly, led by growth in all divisions.
The French cosmetics and consumer-products company said sales were 7.18 billion euros ($7.96 billion), up 11% from the same period the year previous and beating analyst expectations of EUR7.03 billion, according to a consensus estimate provided by Factset.
On a like-for-like basis, sales rose 7.8%, L'Oreal said.
Growth was spurred by the luxe and active cosmetic divisions, both of which posted like-for-like sales growth of 14%, L'Oreal said. The Asia-Pacific region, travel retail, skincare and e-commerce continued to drive growth, too, L'Oreal said.
Sales in North America, however, declined on a like-for-like basis.
For 2019, the company reiterated its confidence that it can outperform the market and grow its sales and profit.
Write to Cristina Roca at firstname.lastname@example.org; @_cristinaroca
(END) Dow Jones Newswires
October 29, 2019 13:29 ET (17:29 GMT)
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