Travel-retail boosts Estée Lauder sales

Nicole Mezzasalma

Print Article E-Mail Article E-Mail Author

The beauty supplier has registered $2.31bn in net sales for the quarter ended December 31

Beauty supplier Estée Lauder Companies has reported $2.31bn in net sales for the quarter ended December 31, a rise of 16% compared with the previous corresponding period. Net earnings for the quarter were up 8% to $224.4m. According to the company, sales grew in all product categories within each of the main geographic regions. In Europe, the Middle East and Africa, the increases in sales were led by the travel-retail business, the UK and Russia.

The company also registered a 12% increase in net sales to $4.02bn for the six months ended December 31 compared with the same period in 2006. Net earnings for the interval were $263.5m.

Estée Lauder Companies president and CEO William Lauder said: "In our second quarter, we produced across-the-board sales gains in our geographic regions and product categories. A favourable currency environment further aided our strong top-line growth. Solid overall global performances from our travel-retail business, freestanding retail stores, internet distribution and most brands contributed to our overall results this quarter. Despite a slowdown in consumer spending in the US, I believe we can achieve our profit objectives through cost containment efforts and disciplined expense control. With this view, we continue to forecast earnings per share of $2.28 to $2.40 for the full 2008 fiscal year."