Breaking News

Growth Slips at L'Oral

February 17, 2009

Sales rose in 2008, but double-digit gains are history.

L'Oréal's global sales rose in 2008, but the heady days of double-digit gains are long gone. The company reported sales rose 2.8% last year to $22.5 bilion, while net earnings increased 3.8% to $2.51 billion.

"In an environment made very difficult in 2008 by the economic crisis, L'Oréal is proving resilient and is continuing to grow in terms of sales, net earnings per share and market share," said Jean-Paul Agon, chief executive officer, L'Oréal.

Sales rose in Eastern Europe and Asia, but were flat in Europe and declined in the U.S. Still, Mr. Agon remains optimistic in the face of a downturn.

"We are tackling 2009 with realism, confidence and resolve. Realism because the economic environment will certainly still be difficult and we are prepared for this. Confidence because the cosmetics market has always shown resilience at times of crisis, and because L'Oréal's fundamentals are strong and our financial situation is robust," he insisted. "But also resolve, because thanks to our product innovation momentum, the unique quality of our brand portfolio, our possibilities for geographic expansion and our determination to strengthen our business drivers and control our costs, we are confident in L'Oréal's ability to successfully weather this adverse economic climate and to even emerge stronger than before.”
  • The Good, The Bad Can Get Ugly

    The Good, The Bad Can Get Ugly

    March 28, 2017
    If you are what you eat, you may really be in trouble!

  • It’s Magic!

    It’s Magic!

    Melissa Meisel, Associate Editor||March 20, 2017
    Argan oil-infused ‘Moroccan’ lip care brand jumps from WholeFoods into CVS.

  • On the Cutler Edge

    On the Cutler Edge

    Melissa Meisel, Associate Editor||March 13, 2017
    Top brand source at Redken forecasts up-to-the-minute hair trends.

  • Supply-Side Innovations

    Supply-Side Innovations

    Tom Branna, Editorial Director||March 1, 2017
    Raw material suppliers roll up their sleeves and roll out their new products for the global cleaning industry.

  • New Faces in Familiar Places

    New Faces in Familiar Places

    Tom Branna, Editorial Director||March 1, 2017
    The American Cleaning Institute officially welcomed its new president.

  • Special Delivery

    Special Delivery

    Tom Branna, Editorial Director||March 1, 2017
    UV protection is important, but what good is that sunscreen if consumers won’t apply it?