PARIS :L'Oreal posted 8.1 per cent sales growth in the fourth quarter, a touch slower than in the previous three months, with firm demand in the United States and Europe helping to offset the dent from coronavirus disruptions in China.The cosmetics company, which sells Maybelline mascara and CeraVe skincare,
PARIS :L'Oreal posted 8.1 per cent sales growth in the fourth quarter, a touch slower than in the previous three months, with firm demand in the United States and Europe helping to offset the dent from coronavirus disruptions in China.
Overall revenues were boosted by 9.4 per cent like-for-like growth in the United States and 8.1 per cent growth in Europe, although the company said it saw a"drastic slowdown" in China in the second half of the year. The executive predicted the first quarter will be"a bit soft still" but from the second quarter the cosmetics company - which has gained a market share of more than 30 per cent in the high-segment thanks to the popularity of its Lancome, YSL and Kiehl's labels - will likely have"good Chinese business."
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