L’Oréal Sales Increase 2.4%, Missing Expectations

L’Oréal reported a 2.4 percent 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 ($12.38 billion), up 2.4 percent on a like-for-like basis from a year earlier, but undershooting the 2.9 percent growth seen in a Visible Alpha consensus estimate cited…