L’Oréal reported its strongest quarterly sales in two years, boosted by a revitalised Chinese market and a “lipstick effect” that is driving demand for beauty products in crisis-weary Europe.
The world’s largest cosmetics group reported first-quarter sales of €12.2bn, up 6.7 per cent from the same period last year on an adjusted like-for-like basis. The figure, which beat analysts’ expectations, takes into account inventory fluctuations linked to an internal IT systems overhaul.
Shares in the Paris-listed owner of Maybelline and Lancôme rose 8.5 per cent in early trading on Thursday.
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