PARIS — Currency fluctuations took a bite out of L’Oréal’s sales for the nine months, but the French beauty giant still managed a 4.5 percent increase in revenues for the period to $10.65 billion.
Currency fluctuations negatively impacted sales by 3.7 percent during the nine months ended Sept. 30, the company said, versus a 2.5 percent negative effect during the first six months of the period. On a like-for-like basis, sales for the nine months were up 8.6 percent.
Dollar figures have been converted from the euro at current exchange rates.
By division, consolidated cosmetics sales were up 4.8 percent to $10.4 billion and rose 8.4 percent on a like-for-like basis. Consolidated dermatology volume increased 11.1 percent to $221 million and were up 17.2 percent for continuing operations and excluding changes in exchange.
In light of the turnout, L’Oréal’s chairman and chief executive officer Lindsay Owen-Jones said in a statement that he remains confident "that strong like-for-like growth would continue to yearend."
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)