Beauty sector gains on L’Oréal results

News Snapshot:

The beauty sector is getting a shot-in-the-arm on Thursday thanks to upbeat results from France’s L’Oréal S.A. (LRLCY, LRLCF) whose Q1 results helped ease concerns about the U.S. beauty industry. L'Oréal's (LRLCY, LRLCF) like-for-like sales in Europe and North America increased by more than 12% and jumped 16.2% in Latin America. Most regions enjoyed double-digit growth except North Asia where sales were down 1.1%. The company blamed the contraction on soft travel retail sales and sluggish sales in China. Most categories were also up double-digits with Dermatological Beauty showing the strongest gain (+21.9%) followed by Consumer Products (+11.1%). The results...