L’Oreal Shares Bounce on Third-Quarter Sales
Shares in L'Oreal rose 4% on Friday, hitting their highest in more than two years, after the French cosmetics giant reported third-quarter sales well ahead of expectations on strong demand for premium products in China and elsewhere. Sales from July to September rose 7.7% on an adjusted like-for-like basis to €11.56 billion ($12.95 billion), topping a consensus analyst forecast of 5.9% growth in a Visible Alpha poll, L'Oreal said late on Thursday.
