×
515
Fashion Jobs
FOUR SEASONS RECRUITMENT
Ecommerce Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Sales Supervisor
Permanent · LONDON
TOO FACED
Too Faced Business Manager, Boots - Oxford
Permanent · OXFORD
TOO FACED
Too Faced Business Manager - Boots, Leeds Trinity
Permanent · LEEDS
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
360 RESOURCING
Account Manager
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
HAYS RETAIL
Retail Operations Manager
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CAMBERLEY
NEXT RETAIL LTD
Warehouse Administrator
Permanent · DONCASTER
HAYS RECRUIMENT
E-Commerce Manager
Permanent · LONDON
HAYS RECRUIMENT
Eyewear Account Manager South London
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CARDIFF
NEXT RETAIL LTD
Sales Coordinator - Permanent
Permanent · LONDON
360 RESOURCING
Head Office Recruitment Consultant - Fashion Retail
Permanent · LONDON
360 RESOURCING
Temps Controller / Temps Recruitment Consultant - Fashion Retail
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Production Manager-Shoes & Slg-Luxury- London Salary up to £70k
Permanent · LONDON
DEPLOY LONDON
International Sales & Marketing Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Digital Marketing Manager
Permanent · LONDON
TOO FACED
Too Faced Business Manager - Boots Brentwood, UK
Permanent · BRENTWOOD

Estée Lauder raises full-year forecast on strength in skincare, China

By
Reuters
Published
today Feb 5, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Estée Lauder Cos Inc raised its annual profit forecast after posting better-than-expected quarterly results on Tuesday, driven by strong growth in China and higher demand for skincare brands such as La Mer, sending its shares up 10 percent.


DR


A double-digit sales growth in the Asia-Pacific, higher sales through online and travel retail channels and increased demand for brands such as M.A.C. and Origins fueled a robust quarter, the cosmetics maker said.

“Despite a volatile and challenging backdrop, we are optimistic about our company’s long-term outlook,” Chief Executive Officer Fabrizio Freda said.

Sales in the Asia-Pacific region grew 17 percent, crossing $1 billion for the first time, as the company benefited from its efforts to expand its business in international markets, particularly China.

In China, the company has collaborated with local celebrities such as Yang Mi and Fei Fei Sun and has been selling on Alibaba’s online marketplace Tmall, while also using the country’s social media channels to lure the Chinese consumer.

“The (results) reduce concerns that China and travel retail consumption could have potentially decelerated,” J.P. Morgan analyst Andrea Teixeira said.

“The print marks another positive result for the luxury cosmetics industry.”

Sales in the company’s skincare business - its biggest - grew 16 percent in the quarter to $1.73 billion.
Overall, net sales rose 7 percent to $4.01 billion, also topping analysts’ average expectation of $3.92 billion, according to IBES data from Refinitiv.

Net income attributable to the company rose four fold to $573 million in the second quarter ended Dec. 31, 2018, from a year earlier, when the company incurred a tax-related charge.

Excluding items, it expects annual sales to grow between 8 percent and 9 percent, as opposed to the previously issued range of 7 percent to 8 percent.

Shares of the New York city-based company rose nearly 10 percent to $149.50 before the bell on Tuesday.

© Thomson Reuters 2020 All rights reserved.