3Q sales at L'Oréal rose 3.4% to 10.28bn euros, below expectations, with a 6.5% drop in North Asia and slower growth in Europe.

L'Oréal reported a 3.4% increase in third-quarter sales, totaling 10.28 billion euros ($11.11 billion), but this was below expectations. A decline in consumer confidence in China led to a 6.5% drop in sales in North Asia, which represents a quarter of total sales. Europe, L'Oréal's largest market, also saw slowed growth at 5.6%. Since June, L'Oréal's shares have fallen 20%, resulting in an approximate 50 billion euro loss in market valuation.

October 22, 2024
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