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L’Oreal Sales Miss Analysts’ Estimates on French Slowdown

  • Second-quarter sales grew 4.3%; analysts expected 4.6%
  • Revenue hurt by ‘very difficult’ French market, L’Oreal says

L’Oreal SA reported second-quarter sales that missed analysts’ estimates after worsening conditions in its home market of France offset gains in North America.

Excluding acquisitions, disposals and currency swings, sales grew 4.3 percent, Paris-based L’Oreal said Thursday after European markets closed. Analysts predicted 4.6 percent, according to the median of 17 estimates compiled by Bloomberg. Sales in Western Europe rose 1.4 percent, missing analysts’ estimates, held back by what the company called a “very difficult” French market.

The performance was “somewhat of a disappointment,” Exane BNP...