L'Oréal reported sales of €10.28 billion for the third quarter, falling short of analysts' expectations of €10.57 billion. The company's like-for-like (LFL) sales grew by 3.4% in the quarter, also missing the expected growth of 5.88%.
In North Asia, LFL sales declined by 6.5%, contrary to the anticipated growth of 2.15%. However, the North American market performed well with a 5.2% increase in LFL sales, surpassing expectations of 3.67%.
L'Oréal's consumer products segment saw a modest LFL sales growth of 1.4%, below the forecasted 5.18%. Meanwhile, the Derm.Beauty segment reported an LFL sales increase of only 0.8%, significantly lower than the expected 11.2% growth.
Following the announcement, L'Oréal's American Depositary Receipts (ADR) fell by 4.1%.
