Monday 16 September 2019

Skin deep: Estée Lauder sales dazzle Wall Street

Ambassador: Victoria Beckham launching her collaboration with Estee Lauder in Brown Thomas, Dublin
Ambassador: Victoria Beckham launching her collaboration with Estee Lauder in Brown Thomas, Dublin

Cosmetics giant Estée Lauder beat Wall Street estimates for fourth-quarter sales yesterday, helped by strong demand for skincare brands and strength in its Asia-Pacific business.

Shares rose as the company said it expected full-year sales to grow in the range of 7pc to 8pc. The skincare group said this optimistic outlook takes into account geopolitical issues, including Brexit, the Hong Kong protests, and the escalating trade row between the US and China.

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Estée Lauder reported net sales up 9pc to $3.59bn (€3.24bn), beating the average analyst estimate of $3.53bn, according to data provider Refinitiv.

Reuters

Irish Independent

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