This marked a sequential deceleration, compared with the 6.4 percent like-for-like company growth in the first quarter and 5.7 percent uptick in the second quarter of 2012.
“The most notable slowdown was in Professional (+0.1 percent), which saw its lowest quarterly growth since 2009. Luxe (+6.6 percent) also weakened (down from +12 percent in the first quarter and +8.7 percent in the second quarter) and the New Markets (+8.1 percent) stayed in single digits for the fifth quarter in the last six, while Western Europe (-0.6 percent) stayed in negative territory,” said Andrew Wood, an analyst at Sanford C. Bernstein & Co., in a research note. “North America remained L’Oréal’s star performer (+7.1 percent).”
Also on a like-for-like basis, the company’s Consumer Products division’s sales grew 4.9 percent in the third quarter. Its Active Cosmetics division’s revenues increased 5.6 percent, while The Body Shop and Dermatology sales rose 5.1 percent and 3.1 percent, respectively.
In the nine months ended Sept. 30, L’Oréal registered revenues of 16.73 billion euros, or $21.45 billion at average exchange, up 10.9 percent. On a like-for-like basis, sales gained 5.6 percent.
L’Oréal chairman and chief executive officer Jean-Paul Agon during a conference call Tuesday night confirmed that the fourth quarter will be “slightly better” than the third quarter for the company, due to some of the recent well-received second-half product launches, such as the women’s fragrances La vie est belle from Lancôme and Manifesto from Yves Saint Laurent.
As for the Professional Products division, he said, “We believe that the next quarter will be better for us” and that the third quarter “was a low point.”
Regarding the beauty industry at large, Agon said: “We are quite confident for the evolution of the market.” He explained it’s growing between 3 percent and 4 percent in the U.S., for instance, that in new emerging markets such as Latin America it is “still very positive,” and “pretty solid” in France, the U.K. and Germany.
Agon added L’Oréal continues to believe the overall beauty market should be pretty solid through the end of this year and also in 2013.
He maintained L’Oréal’s 2012 targets of outperforming the cosmetics business, which the company estimates will grow approximately 4 percent worldwide this year, and to achieve growth in sales and profits.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)