L’Oréal Sales Growth Sluggish as China Weakness Persists

(Bloomberg) — L’Oréal SA reported sluggish sales growth in the second quarter as the world’s biggest maker of beauty products suffered from weakness in China.

Sales rose 5.3% on a like-for-like basis, L’Oréal said Tuesday, less than the 6% gain expected by analysts.

Shares of L’Oreal rose 2.5% in early trading Wednesday, helped in part by a solid performance in Europe. The stock has fallen about 6% in the past 12 months.