L'Oreal posts higher sales, profit in 2013

PARIS (AP) - French cosmetics giant L'Oreal says profits on sales of its Maybelline makeup, Garnier shampoo and other beauty aids helped lift earnings to a new record in 2013.

The company behind Lancome cosmetics and the Body Shop retail chain reported net profit of 2.96 billion euros ($4 billion) last year, up 3.2 percent from 2.87 billion in 2012.

L'Oreal, owned 29.5 percent by Swiss food giant Nestle, said in a statement Monday its profitability "reached a record level" of 16.9 percent of sales last year, and forecast still higher sales and profit in 2014.

L'Oreal says fourth quarter cosmetic sales were nearly flat, with slight declines in Western Europe and Asia Pacific offset by growth in North America.


(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Trial Beginning
    Twelve Seattle police officers will begin using new body-worn cameras next week

  • Week in Photos
    Penguins, cheetahs and Santa make it in this week's photos
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.