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L’Oréal Q1

This article was originally published in The Rose Sheet

Executive Summary

Sales in North America rose 7.8% on a like-for-like basis, or 2.8% according to international financial reporting standards, to $1.16 bil. (€1=$1.30), French company reports April 21. "The promising start in sales in the United States, and the continuing rapid growth in new markets are very positive factors," Chairman and CEO Lindsey Owen-Jones states, adding sluggish sales in Western Europe are expected to rebound by year-end. Consumer sales were up 3.4% like-for-like to $2.43 bil. and Professional division revenue grew 3.5% like-for-like to $650.9 mil. Luxury Products dropped 0.3% like-for-like to $1.04 bil. Group sales totaled $4.62 bil., up 3.1% on a like-for-like basis...
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