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Maybelline maker L'Oreal beats forecasts with quarterly sales growth

·1 min read

PARIS, Oct 22 (Reuters) - L'Oreal, the French company behind Lancome and Maybelline cosmetics, on Thursday said its sales had rebounded in the third quarter after falling sharply during coronavirus lockdowns, with comparable revenue turning positive again.

Sales in the July to September period were 7 billion euros ($8.27 billion), up 1.6% from a year earlier on a like-for-like basis, which strips out currency effects and acquisitions. Sales had dropped 19% year on year in the previous quarter.

Analysts had expected sales to improve but to remain down from the same period last year. ($1 = 0.8460 euros) (Reporting by Sarah White Editing by David Goodman)