L'Oreal Q1 Sales Up 14.1% On Growth In North America, Emerging Markets

(RTTNews) - French cosmetics and beauty company L'Oreal Co (LRLCY.PK) on Monday said its first-quarter sales rose 14.1% to €6.44 billion from €5.64 billion last year, with cosmetics division sales up 14.3%.

L'Oreal said it benefited from a 25.2% jump in quarterly sales in North America, and a 17.4% increase in new markets including Asia Pacific, Latin America, African and the Middle East, while Eastern Europe slackened. Sales in Western Europe were up 4%.

On a like-for-like basis, L'Oreal's sales for the quarter were up 4%.

During the quarter, L'Oreal benefited from very positive currency impact as well as growth in all divisions.

Looking ahead, L'Oréal said that amid volatile economic conditions, it remains confident to outperform the market this year too, and achieve growth in sales and profit.

The company said it is accelerating its digital transformation, especially in terms of brand activation and e-commerce development.

L'Oréal also said it has finalized the acquisition of Niely in Brazil and is integrating Magic, NYX, Decléor and Carita, the strategic brands acquired in 2014.