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L'Oreal sales falter, margins hold up amid lockdowns

L'Oreal sales falter, margins hold up amid lockdowns

Revenue at Maybelline maker L'Oreal fell sharply in the second quarter even as online sales surged during lockdowns to fight the COVID19 pandemic, though the French beauty group managed to contain any major erosion of profit margins.

  • Reuters
  • Last Updated: July 30, 2020, 10:16 PM IST
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PARIS Revenue at Maybelline maker L’Oreal fell sharply in the second quarter even as online sales surged during lockdowns to fight the COVID-19 pandemic, though the French beauty group managed to contain any major erosion of profit margins.

The group said on Thursday revenues came in at 5.85 billion euros ($6.90 billion) in April-June, down 18.8% on a like-for-like basis, which strips out currency effects and acquisitions.

Some analysts had expected a less severe drop.

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Operating margins stood at 18% at the end of the first half of the year, only slightly down from 18.6% at the end of 2019.

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  • First Published: July 30, 2020, 10:16 PM IST
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