French cosmetics giant L'Oreal reported a rise in third quarter sales on Tuesday that missed expectations after low consumer confidence in China sapped demand for beauty products.

L’Oreal SA posted disappointing sales last quarter as the beauty company suffers from worsening consumer demand in China.Like-for-like sales in North Asia, which includes China, fell 6.5% in the third quarter,

Financial writer's analysis of L'Oréal's sales decline in North Asia, particularly China, and shift towards more affordable products, rating the stock

L'Oreal's shares on Wednesday extended a deep sell-off after the cosmetics giant reported quarterly sales below expectations, citing reduced beauty products demand in China and slower growth for its dermatological division.

The French beauty giant reported third-quarter sales below analysts’ expectations as the industry is contending with shrinking demand in key markets, particularly in China.