L'Oreal cosmetic giant posts 5.1% sales increaseApril 18, 2013 - 21:17 AMT PanARMENIAN.Net - French cosmetics company L'Oreal saw its revenue rise 5.1 percent in the first quarter of the year as sales in North America and developing markets offset sluggishness in Europe, AP said. The company reported Thursday, April 18 that it pulled in 5.9 billion euros ($7.7 billion) in the January-to-March period. Much of that growth happened in Africa, the Middle East, Eastern Europe and North America. But all geographical regions posted growth. Western Europe, however, lagged behind the others, with a 1.9 percent rise. The company also blamed a 0.9 slide in sales of professional products on the economic crisis in Europe, saying that most of its customers for those lines are on that continent. The company behind Maybelline makeup and Garnier hair products maintained its goal to increase sales and profits this year. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. U.S. reacts to Russia’s criticism of upcoming Armenia-EU-U.S. meeting Matthew Miller has weighed in on Russia’s criticism of an upcoming Armenia-EU-U.S. meeting. Lavrov sees ‘collapse’ of Russia’s ties with Armenia Russian Foreign Minister Sergey Lavrov has underscored heightened tensions between Russia and Armenia. Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine |