L’Oréal Drops on Weak Sales Growth in Luxe Unit and China

L’Oréal SA shares fell after the French beauty group posted disappointing sales growth, held back by its luxury division and weakness in the region that includes China.

Sales rose 6% on a like-for-like basis in the fourth quarter, L’Oréal said Thursday, lagging analysts’ expectations for an increase of about 6.5%.