L’Oréal reported disappointing sales in the third quarter as demand for skincare and make-up waned in the French beauty group’s Chinese market.
Sales at the group, whose brands include Garnier, La Roche-Posay and Kiehl’s, grew 3.4 per cent on a like-for-like basis in the three months to September 30, reaching €10.28bn, significantly below analyst estimates of a 6 per cent rise.
The third-quarter figures marked a further slowdown from the second quarter, in which sales grew 5.3 per cent on a like-for-like basis, slowing from 9.4 per cent growth in the first quarter.
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