The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/Z4CVMCVVLZGI3BFQJV25VSG3LE.jpg)
PARIS, France — L'Oréal's shares rose on Wednesday after the French cosmetics group beat first-quarter sales forecasts.
The stock was up around 1.5 percent in early trading, among the biggest gains on Paris' benchmark CAC-40 index.
L'Oréal reported late on Tuesday higher-than-expected first-quarter sales growth. Across the group, sales rose 11.4 percent to €7.6 billion (£6.6 billion), and were up 7.7 percent on a like-for-like basis.
"2019 like for like sales off to a strong start, boosted by Asia," wrote brokerage Liberum, keeping a "hold" rating on L'Oréal shares.
By Sudip Kar-Gupta and Sarah White; editor: Mark Potter.
:quality(70):focal(-5x-5:5x5)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/UF5I5JE2FFALHNNBG2GBHD4UEI.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/K5G47WX7PJGZZAIMEBCWQRI4P4.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/RUVHIZKZTRDI5BZ3TYMXGO3LSM.png)
:quality(70):focal(620x1058:630x1068)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/PT2GQL2Y5BEIPFNX5ITYTIVV6A.jpg)
