L'Oreal reports 3.4% rise in third-quarter sales
PARIS (Reuters) - French cosmetics giant L'Oreal reported a rise in third quarter sales on Tuesday that missed expectations, as it became the latest European company to see weaker-than-expected demand in China.
The company, which owns the Maybelline and Lancome brands, said sales for the three months to the end of September came to 10.28 billion euros ($11.11 billion), a 3.4% rise on a like-for-like basis at constant exchange rates.
It was below a Visible Alpha consensus of 6% cited by Jefferies.
($1 = 0.9255 euros)
(Reporting by Dominique Patton; editing by Barbara Lewis)
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