The Estée Lauder Companies report Q2 results
The multinational organisation presents an overall increase in net sales over the second quarter of 2014
The Estée Lauder Companies reported net sales for its second quarter ended 31 December 2013 of $3.02bn, a 3% increase compared with $2.93bn in the prior-year quarter.
Net sales increased 4%, making net earnings for the quarter $432.5m, compared with $447.5m in the previous year.
Net sales in individual product categories were: skin care, approximately $48m; makeup, approximately $32m; fragrance, approximately $10m; and hair care, approximately $4m.
President and Chief Executive Officer Fabrizio Freda, said, "Our fiscal second quarter sales growth was in line with our expectations, despite softer than expected markets in some geographies. Underscoring our sustainable growth is our strong and diverse portfolio of brands that is balanced by geography, product category and channel. Key drivers of our sales gains in the quarter were the United States and the United Kingdom, our luxury and makeup artist brands, and online and travel retail channels. These factors and continued strength overall in emerging markets more than compensated for soft results in certain European countries and solid but slowing Chinese market growth.”
