Estee Lauder
This article was originally published in The Rose Sheet
Executive Summary
Company expects distribution diversification efforts will result in North American department stores comprising 37% of sales, with international department stores reflecting 24% and perfumeries 14%, by 2006, firm says during Oppenheimer Business of Beauty, Health & Fitness conference Sept. 14. North American department stores accounted for 46% of sales in 2002, Lauder notes. Firm expects recently unveiled strategic modernization plan, which will be implemented over the next four to five years, to yield annual savings of $80 mil. by 2010 (1"The Rose Sheet" Aug. 22, 2005, p. 3). Lauder also reiterates fiscal 2006 sales guidance; revenues are expected to grow 5.5%-6.5% to $6.7 bil...