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Alsharq Tribune- World News
L'Oreal reported a 3.5% rise in like-for-like first-quarter sales on Thursday, beating expectations for slower growth, as strong demand for its face creams and perfume in Europe helped counter challenging conditions in the United States.
The French cosmetics group, which owns Maybelline makeup and Kiehl's skincare, reported sales of 11.7 billion euros ($13.30 billion) for the three months to the end of March.
Growth exceeded a Visible Alpha consensus of 1.3% cited by analysts at Jefferies, though it also included a 100 million euro benefit from phasing of an IT overhaul, the company said.
