Estée Lauder sees huge net income boost in Q2
Latest results show a 34% rise in profits
Estée Lauder Companies has today announced that its second quarter proved a fruitful one as Christmas shopping sales helped to boost its net income to $343.9m, a rise of 34% on the same quarter a year ago.
The results would seem to indicate that shoppers are starting to spend again as the economy slowly improves, according to the company. Estée Lauder’s shares also rose from $1.28 per share a year ago, to $1.71 per share in 2011.
The company, which garners half of its revenue from outside of the US, says this healthy sales period was also helped by the weaker US dollar. It also puts the rise down to growth in the company’s travel retail stores and emerging markets although revenue did grow across all geographical regions and product categories in the second quarter.