L'Oreal sales rebound helped by China and booming online business

L'Oreal, the world's biggest cosmetics group, posted higher-than-expected revenue growth for the fourth quarter on Thursday, lifted by surging sales in China and supported by its online business during the coronavirus pandemic.
 

Luxury retailers and beauty companies have had earnings dented by the closure of airport duty-free shops and high street stores, while the health crisis has changed consumer habits as people stay home and facemasks reduce demand for cosmetics.
 

But L'Oreal said demand for skincare products was particularly strong and it benefited from an easing of lockdowns in the second half of 2020, with the reopening of hair salons.