L’Oreal reports Q1 like-for-like sales up 3.5% to EUR 11.73B

The company said sales growth benefited from the phasing related to the 2024 and 2025 IT transformation with a positive net impact of EUR 100M. It added, “In what has been a particularly challenging and volatile operating environment, L’Oreal (LRLCY) has started the year with growth in line with our projections. There were some good and some less good surprises: the US were more challenging than anticipated, while China was slightly better than expected. Europe was, once again, our single largest growth contributor and emerging markets remained dynamic. Our ‘Beauty Stimulus’ Plan is off to a promising start thanks to innovations like Gloss Absolu from Kerastase, P-Tiox from SkinCeuticals, Make Me Blush from Yves Saint Laurent or Elseve Growth Booster by L’Oreal Paris. Its impact will only continue to increase as we extend these innovations into new markets and continue to launch more new products.”