(Reuters) – L’Oréal reported on a turnover on Thursday 3.5% comparable to the first quarter, the French cosmetics group greeting a better than anticipated performance in China while signaling difficulties in the United States.
L’Oréal, which manages around forty brands of shampoos, creams and perfumes, reported a turnover of 11.73 billion euros over the first three months of the year, after 11.25 billion euros a year ago.
This result exceeds the expectations of analysts who tabbed on growth of 1.3%, according to a visible alpha consensus quoted by Jefferies. It includes in particular a positive net effect of 100 million euros linked to the computer transformation carried out in 2024 and 2025, the group said in a press release.
“L’Oréal is starting the year with growth in accordance with our forecasts. There have been good and less good surprises: the United States is more difficult than expected, while China is slightly better than anticipated,” said Director General Nicolas Hieronimus in the press release.
After years of strong growth, driven by demand for its high -end products, L’Oréal had to face the attenuation of prices with the slowdown in inflation, as well as increased competition in China in the category of medical care for the skin.
The LVMH luxury giant, faced with difficulties in two key markets, the United States and China, notably reported a 3% organic drop in sales in the United States, while in the Asia region, which excludes Japan, they fell 11%.
“In the current context, our priorities are to energize growth and manage our results account in order to compensate for the impact of customs duties increases,” adds Nicolas Hieronimus.
The leader says he is “confident” on the growth of the global beauty market this year, despite current economic and geopolitical tensions, and estimates that L’Oréal will be able to achieve “a new year of turnover and results growth”.
(Written by Augustin Turpin, with Dominique Patton, edited by Blandine Hénault and Kate Entringer)
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