L’Oréal Experiences a Sales Slowdown Amidst Weakening Demand in China
L’Oréal reported a disappointing 3.4% growth in like-for-like sales in the third quarter, missing the projected 6% increase and marking a significant slowdown from earlier in the year. The decline was particularly sharp in the North Asian market, especially China, where sales dropped by 6.5%. This underperformance reflects broader economic challenges in China, including waning consumer confidence and regulatory impacts on market practices. Despite setbacks in its luxury and dermatological segments, L’Oréal remains optimistic about the Chinese market’s recovery. In contrast, North America showed stronger performance, with sales exceeding expectations.
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