October 2023

Updated Oct. 19 4:10 p.m. PARIS – L’Oréal’s third-quarter sales grew 4.5 percent in reported terms, dampened by travel retail Asia, but bolstered by business within the group’s Dermatological Beauty and Consumer Products divisions. Total sales for the maker of Lancôme, Kiehl’s and CeraVe products within the three months ended Sept. 30 got here to 10 billion euros, up 11.1 percent on a like-for-like basis, consistent with analysts’ consensus. “Being in line just isn't something we often write about L’Oréal,” wrote Bruno Monteyne, a Bernstein analyst in a note Thursday evening, after the Paris bourse closed and L’Oréal published its results. Monteyne highlighted how L’Oréal’s travel retail business dragged the group’s sales in North Asia down sequentially from plus 5.9 percent within the second...