Estee Lauder
This article was originally published in The Rose Sheet
Executive Summary
Net sales for fiscal third quarter (ending May 31) to grow 8%- 9% on constant currency basis versus year-ago period, firm predicts in refined sales and earnings outlook March 15. Lauder previously had forecast an 8%-10% gain. U.S. sales growth expected to be in low- to mid-single digits while double-digit growth predicted in Europe, the Middle East and Africa and Asia/Pacific regions, firm notes. Hair care to grow double digits, strong growth expected in makeup and skin care categories, while fragrance sales likely will remain flat, firm says. Net sales for year to increase along company's historical growth pattern of 8%-10% in constant currency. Lauder continues to be cautious that U.S. economic conditions are creating softer retail sell-through that may affect company results for second half 2001