L'Oreal Upbeat on 2022 Growth as 1Q Sales Brush Off Inflation
19 Avril 2022 - 6:45PM
Dow Jones News
By Joshua Kirby
L'Oreal SA said Tuesday that it is confident of outperforming
the beauty market in 2022 after first-quarter sales grew across
regions and product categories despite inflation and pandemic
pressures.
The French cosmetics giant made total sales of 9.06 billion
euros ($9.77 billion) in the quarter, rising 14% like-for-like from
EUR7.61 billion in the previous-year period.
Analysts had expected sales of EUR8.82 billion, according to a
poll of estimates compiled by FactSet.
Every business division and geographic region posted growth in
the quarter, with Europe sales increasing by 16% to EUR2.85 billion
and North Asia sales rising 9.4%. This included double-digit growth
in mainland China despite headwinds from strict lockdowns in
several cities in March, L'Oreal said.
Growth was unaffected by inflation, which had no impact on
consumer purchasing trends, the company said.
Looking ahead, L'Oreal said it is upbeat about the beauty
market's prospects this year and about its own outperformance of
the market. The company expects to achieve another year of sales
and profit growth, it added.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
April 19, 2022 12:30 ET (16:30 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
LOreal (EU:OR)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
LOreal (EU:OR)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
