Estée Lauder Companies has reported a strong financial performance for its fourth quarter and the fiscal year that ended 30 June 2014.
For the quarter, the company reported net sales of $2.73bn, up 13% from $2.41bn in the previous year for the same period. Excluding the impact of foreign currency translation, net sales also increased by 13% in Q4 2013.
For the year, the company achieved record net sales of $10.97bn, an 8% increase compared with $10.18bn in the prior year. Excluding the impact of foreign currency translation, net sales also increased 8%. Net earnings for the year rose 18% to $1.2bn, compared with $1.02 billion for the fiscal year 2013.
In an online webcast analysis of the fiscal 2014 fourth quarter and full year, Fabrizio Freda, President and Chief Executive Officer, commented that the company “achieved record results across many metrics, including sales, operating margin, earnings per share and operating cash flow," adding that the company's topline growth was "nearly double that of prestige beauty and was broad-based across regions, product categories and channels, despite slower industry growth in some key countries.”
The company's performance in the latest financial report can be attributed in part to new products, accelerated retailer orders, and growth in the US, Japanese, Chinese and Hong Kong markets. Freda noted the growth stemmed from "emerging markets, makeup and luxury brands, and our online, freestanding store and travel retail channels."
During the webcast, the firm also announced that it will pay a quarterly dividend of $.20 per share on the its Class A and Class B Common Stock on 15 September 2014 to stockholders of record at the close of business on 29 August 2014.
