Despite a difficult Chinese and South American sales environment, not to mention stiff currency exchange squalls, Estée Lauder saw Q1 2016 sales hit $2.83bn, a figure that was considerably better than expected.
There were strong performances from Tom Ford, Jo Malone and La Mer plus gains for Smashbox and MAC. A weaker euro helped drive travel retail sales but, in the US, make-up saw high single digit growth. China sales suffered, however, while middle class income among Chinese consumers may be under pressure, spending abroad is on the up, particularly in South East Asia and Japan. This helped Lauder profits climb 36% in total to $309.3m.
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