L’Oréal’s skin care division finally steps up—just in time for the next quarter
The beauty giant’s latest report is a reminder that even in a slow market, some things just keep moving.
The story
L’Oréal beat earnings expectations in Q3 2026, with sales up 11.9% and growth across all divisions and regions, driven by fragrances, hair care, and skin care.
Source: wwd.com
Our reading
L’Oréal’s latest earnings report is a masterclass in corporate euphemism, where ‘exceptional’ means ‘we’re still growing while everyone else is struggling.’ The company’s skin care division, which once lagged, is now ‘stepping up its pace’—a phrase that sounds less like a comeback and more like a slow, deliberate walk toward the finish line. Meanwhile, the travel retail sector in North Asia returned to positive growth, which is great news if you’re a tourist looking for a last-minute lipstick. But the real standout is the e-commerce sales, up 17%—a number that would make even the most skeptical shopper wonder if they’ve accidentally signed up for a beauty subscription.
