Beauty boom: L’Oreal sales rebound after lockdowns ease

PARIS (Reuters) – L’Oreal, the French company behind Maybelline cosmetics and Garnier shampoo, said on Thursday it was back to revenue growth in the third quarter as it performed well with Chinese customers and kept up its product launches.

FILE PHOTO: Vials of L’Oreal’s luxury range Kerastase Fusio-Dose hair treatment products are displayed at Cuttour hair salon in Jewel Changi Airport in Singapore, May 24, 2019. REUTERS/Loriene Perera/File Photo

Like companies in the luxury goods sector, L’Oreal was hit hard by coronavirus lockdowns earlier this year when stores and airport retailers shut down. It was also hurt by hair salons having to close temporarily, as it sells professional products.

But revenues have since recovered in most divisions, including in the mass market unit that produces ranges like Garnier for sale in supermarkets.

Overall sales came in at 7 billion euros ($8.27 billion), for the July to September period, rising 1.6%

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Australian Home Prices May Rebound on Low Rates, Easy Credit

(Bloomberg) —



a house with trees in the background: Residential properties stand along a street in Brisbane, Australia, on Tuesday, May 7, 2019. Australian central bank chief Philip Lowe dashed expectations of an interest-rate cut, looking through recent weakness in inflation to hitch the policy outlook to a labor market that he says remains strong.


© Bloomberg
Residential properties stand along a street in Brisbane, Australia, on Tuesday, May 7, 2019. Australian central bank chief Philip Lowe dashed expectations of an interest-rate cut, looking through recent weakness in inflation to hitch the policy outlook to a labor market that he says remains strong.

Australian home prices may have bottomed out and could be set to rise through the end of the year on the back of lower interest rates and easier credit, according to Bloomberg Intelligence.

Property prices have fallen just 3% since the Covid-19 crisis began, defying concern of a steeper slide. A plan to ease responsible-lending rules and mounting speculation for further loosening of monetary policy in coming months may unleash a wave of borrowing, Bloomberg Intelligence analyst Mohsen Crofts said in a report Wednesday.

What Bloomberg Intelligence says:

Video: IMF sees less severe global contraction (Reuters)

IMF sees less severe

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