L'Oreal Shares Rise Following Higher Sales

Dow Jones04-19

By Nina Kienle

L'Oreal shares rose on Friday after the French Cosmetics giant posted higher sales for its first quarter late Thursday.

At 0747 GMT, shares rose 4.8% at EUR444.10.

L'Oreal reported sales of 11.24 billion euros ($11.96 billion) for the three months to the end of March, rising 8.3% in reported terms and 9.4% on a like-for-like basis. The figure was boosted by growth in its core consumer-products and dermatological-beauty divisions, particularly in Europe and North America.

Sales in Europe rose more than 12% in reported terms to EUR3.73 billion.

"The West continues to power on, with Europe 500 basis points ahead of consensus expectations and solidly double-digit," Jefferies analysts Molly Wylenzek and David Hayes said in a note to clients.

Chief Executive Nicolas Hieronimus expects that L'Oreal will keep outperforming the market and achieve another year of growth in sales and profit.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

April 19, 2024 03:53 ET (07:53 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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