L’Oréal Q3 Sales +4.2% (4.9% Adj); Shares Drop

L’Oréal reported third-quarter sales of €10.33 billion, up 4.2% like‑for‑like and 4.9% when adjusted for an IT transformation, an acceleration from Q2 but short of analysts’ forecasts. Growth was broad‑based, with improvements in North America and a return to positive performance in North Asia/China driven by luxury demand; online channels and emerging markets including India and the SAPMENA‑SSA region also contributed. Consumer Products and Professional Products showed strength in emerging markets, supporting regional momentum. Investors reacted negatively to the results and management’s cautious tone, sending shares down about 6–7% as analysts flagged risks such as slower China growth, fragrance destocking and near‑term visibility concerns. L’Oréal said underlying trends look stronger after IT phasing and is pursuing acquisitions — including the planned ~€4bn Kering Beauty deal and recent purchases like Medik8 and ColorWow — to bolster innovation and luxury exposure.