L'Oreal sees online boom, eyes 'roaring 20s'
Catwalk shows may be a distant memory.
But L'Oreal had plenty to show off when it reported earnings.
The world's biggest cosmetics group beat forecasts for revenue growth in the fourth quarter.
Total sales for the period hit 9.5 billion dollars.
Consumers stuck at home are seemingly still splurging on feel-good treats.
L'Oreal's online sales surged 62% over 2020 - reaching more than a quarter of all sales.
The company thinks that trend is here to stay, with online heading towards half of sales.
Now closed hair salons and luxury stores remain a concern.
But the maker of Lancome, Maybelline and Garnier among other brands, is looking forward to life after lockdown.
It reckons the world could be in for a 'roaring 20s'.
That as pent-up people rush out to socialise again.
Chief Executive Jean-Paul Agon predicts a 'fiesta' for makeup and fragrances.
He says strong sales in China, where many restrictions have been lifted, offer a sneak preview of what's to come.
L'Oreal sales there were up 27% over the course of last year.
Shares in the company were up around 2.5% by early afternoon Friday (February 12).
