L'Oréal – with brands such as Yves Saint Laurent and Lancôme in the portfolio – reports an increase in sales in comparable units of 4.2 percent in annual terms in the third quarter. This can be compared to the expected 4.8 percent, according to Bloomberg.
In North America, the sales increase was 1.4 percent, compared to the expected 4.4 percent.
"All segments except Professional missed expectations", summarizes analyst Wassachon Fon Udomsilpa at RBC Capital Markets according to Bloomberg.
L'Oréal recently confirmed that it is buying the French luxury conglomerate Kering's beauty division, Kering Beauté, for 4 billion euros. Thus, L'Oréal also takes over the fragrance brand Creed.
According to the agreement, L'Oréal also gets a 50-year license to develop beauty products for Bottega Veneta and Balenciaga – from 2028, the license also applies to Gucci.
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