By Giulia Petroni

 

L'Oreal SA said Wednesday that it is optimistic about the beauty market outlook in 2023 after first-quarter sales grew across geographies and categories.

The French cosmetics giant reported quarterly sales of 10.38 billion euros ($11.37 billion) from EUR9.06 billion in the previous-year period. On an organic basis, sales grew by 13% on year, with strong growth across emerging markets.

The company's performance still has to benefit from reopenings in China, it said.

In terms of divisional performance, growth was particularly strong in the dermatological beauty segment and consumer products, where sales rose roughly 31% and 15% respectively.

Looking ahead, L'Oreal said it is confident it will keep outperforming the market and achieve sales and profits growth in the year.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

April 19, 2023 12:30 ET (16:30 GMT)

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