L’Oréal Sales Gain 11.4% in Q1

PARIS — L’Oréal’s first-quarter sales gained 11.4 percent, bolstered by the ongoing strength of its Luxe and Active Cosmetics Divisions, as well as momentum in New Markets.
Company sales in the three months ended March 31 reached 7.55 billion euros. On a like-for-like basis, sales were up 7.7 percent.
The maker of Lancôme, Garnier and Maybelline products reported after the Paris Bourse closed Tuesday that its e-commerce revenues advanced 43.7 percent, and that the group’s travel-retail sales rose 24.1 percent in comparable terms in the period.
Jean-Paul Agon, L’Oréal chairman and chief executive officer, highlighted in a statement that the company had maintained the rhythm set in the fourth quarter of 2018, with the same growth drivers.
“Furthermore, the performance by division and zone remains contrasted in a market itself very contrasted,” he said.
All of L’Oréal’s divisions posted growth in the quarter: Revenues were up 19 percent for L’Oréal Luxe, 14.1 percent for Active Cosmetics, 7 percent for Consumer Products and 4.8 percent for Professional Products.
By geography, sales generated by New Markets rose 19.5 percent, 9.2 percent for North America and 2.1 percent for Western Europe.
“Despite a volatile, uncertain and contrasted economic environment, this positive start to the year gives us confidence in our capacity to outperform the market in 2019 and see another year of growth in sales and profits,” said Agon.
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