L’Oreal posts 2.4% rise in second-quarter sales

By Dominique Patton

PARIS (Reuters) -L’Oreal reported a 2.4% rise in second-quarter sales on Tuesday, missing forecasts as growth in Europe slowed more than expected and demand at travel outlets in Asia was subdued.

The French cosmetics group, whose brands include Maybelline makeup and CeraVe skincare, said sales in April-June totalled 10.74 billion euros ($12.38 billion), up 2.4% on a like-for-like basis from a year earlier, but undershooting the 2.9% growth seen in a Visible Alpha consensus estimate cited by Jefferies.

Underlying growth, after stripping out the impact of phasing in a new IT system, was 3.7%, the company said.

($1 = 0.8674 euros)

(Reporting by Dominique PattonEditing by Mark Potter)