83 029
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Norwalk
Permanent · NORWALK
BELK
Store Fulfillment Associate - Full Time
Permanent · FRANKLIN
BELK
Asset Protection Lead - Full Time
Permanent · AUBURN
BELK
Store Fulfillment Associate - Full Time
Permanent · SAVANNAH
BELK
Store Fulfillment Associate - Part Time - Independence Mall
Permanent · WILMINGTON
BELK
Asset Protection Associate - Full Time
Permanent · ROCKY MOUNT
BELK
Store Fulfillment Associate - Part Time - Coastal Grand
Permanent · MYRTLE BEACH
BELK
Store Fulfillment Associate - Full Time - Bridgestreet
Permanent · HUNTSVILLE
BELK
Store Fulfillment Associate - Full Time
Permanent · TUPELO
BELK
Store Fulfillment Associate - Part Time
Permanent · SAVANNAH
BELK
Asset Protection Manager - Triangle
Permanent · RALEIGH
ALO YOGA
Construction Project Manager
Permanent · LOS ANGELES
SUN VALLEY
Sun Valley Marketing Manager
Permanent · SUN VALLEY
LULULEMON
Community Specialist | (Contract) Market Street The Woodlands
Permanent · THE WOODLANDS
LULULEMON
Community Specialist | Orlando Premium Outlet
Permanent · ORLANDO
LULULEMON
Full-Time Community Specialist | Cumberland Mall
Permanent · ATLANTA
FOSSIL
Dam/Dynamic Media Administrator
Permanent ·
KOHLS
Operations Supervisor - Weekend Days
Permanent · PLAINFIELD
KOHLS
Technical Project Manager
Permanent · MENOMONEE FALLS
KOHLS
Loss Prevention Associate
Permanent · FINDLAY
NAVY EXCHANGE
Vending Route Driver (Operations Worker) FT w/Benefits
Permanent · BREMERTON
NAVY EXCHANGE
Asset Protection/Safety Investigator (Detective) FT w/Benefits
Permanent · BREMERTON
By
AFP
Published
Oct 20, 2022
Reading time
2 minutes
Download
Download the article
Print
Text size

L'Oreal confident beauty will beat inflation beast

By
AFP
Published
Oct 20, 2022

French beauty products giant L'Oreal beat third-quarter sales expectations and expressed confidence Thursday about the outlook despite global economic uncertainty and rampant inflation.


Photo: Maybelline



Sales at the world's top beauty company shot 19.7 percent higher in the July through September period to 9.58 billion euros ($9.34), beating the analyst consensus of 9.29 million compiled by Bloomberg.

"In a context of unprecedented volatility, marked by the public health restrictions in China and inflation in the Western world, L'Oreal achieved a very solid quarter," said chief executive Nicolas Hieronimus.

"The global beauty market remained dynamic, and consumers' appetite for beauty products is intact," he added.

Nine-month sales were up 20.5 percent to 27.94 billion euros at the firm that owns the Maybelline New York and Garnier brands.

"Despite the current uncertainties, we remain confident in the outlook for the global beauty market ... and confident in our ability to outperform the market and achieve another year of growth in sales and profits in 2022," Hieronimus added.

Although high inflation and interest rate hikes are causing concern about Europe and the United States slipping into recession, L'Oreal enjoyed double-digit growth in both regions.

North Asia was flat, held back by China.

"As a consequence of the sanitary restrictions linked to the zero-Covid dynamic in China, the beauty market was still negative in the third quarter," said the firm.

It noted that the beauty market in Japan and South Korea had posted a double-digit rebound after Covid restrictions were lifted.

L'Oreal has been repositioning itself towards the luxury market, and the unit saw sales rise 15.8 percent in the quarter.

The division includes Lancome and Kiehl's as well as the beauty products of luxury brands such as Giorgio Armani, Prada, Ralph Lauren and Yves Saint Laurent.

The company also benefited from the weakness of the euro, with currency effects having a +8.1 percent impact.

 

Copyright © 2024 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.