beauty-features
beauty-features

Lauder Profits Fall 4 Percent in Quarter

Overseas strength helps balance softness in U.S.

Strength abroad helped The Estée Lauder Cos. drive up third-quarter sales, but softness in the U.S. resulted in a dip in profits.

Net income fell 4 percent to $90.1 million, compared with $93.9 million a year earlier. However, earnings per diluted share rose a penny to 46 cents, due to fewer shares outstanding in the most recent quarter.

Sales for the three months ended March 31 advanced 11.2 percent to $1.88 billion from $1.69 billion.

“One of the great strengths of our company is our geographic and product category balance,” said William Lauder, chief executive officer. “This was clearly visible in our results this quarter, which enabled us to deliver solid sales growth despite the softness in the U.S. retail environment.”

Quarterly operating profits in the Americas fell 30 percent to $50.4 million on a 2.8 percent increase in sales to $880.9 million. In contrast, operating profits in the company’s business in Europe, the Middle East and Africa shot up 17.1 percent to $77.3 million on a 17.2 percent rise in sales to $701.5 million.

For complete coverage, see Wednesday’s issue of WWD.
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false