The Estée Lauder Companies Inc last week reported net sales for its second quarter ended December 31, 2014 of $3.04 billion, a 1% increase, compared with $3.02 billion in the prior-year quarter. Net earnings for the quarter were $435.7 million, compared with $432.5 million last year and diluted net earnings per common share increased 3% to $1.13, compared with $1.09 in the prior year. For the quarter, the negative impact of foreign currency translation on diluted net earnings per common share was $.07. Excluding the impact of foreign currency translation, net sales increased 5% and diluted net earnings per common share increased 10%, which reflects a reduction in the Company’s effective tax rate.
Fabrizio Freda, President and Chief Executive Officer, said, “Our successful performance this quarter reflected solid global demand for our brands, including a strong holiday season. Our results further demonstrate our ability to grow despite currency headwinds and softness in several countries. For the quarter, our sales and profits came in higher than planned as we continued to leverage our diverse growth engines and capitalized on high-growth opportunities, which translated into excellent results in several of our higher-margin brands and channels, while efficiently managing costs. Key drivers of our performance were the United Kingdom and emerging markets, our makeup and luxury brands, and online, specialty-multi and freestanding store channels».
We began the second half of our fiscal year by successfully completing the acquisitions of Editions de Parfums Frédéric Malle and Glamglow. These brands, along with Rodin olio lusso and Le Labo, which we purchased last quarter, complement our portfolio in skin care and luxury fragrance and further strengthen our long-term strategic growth plan.
“Our second half plans call for an acceleration of sales and profit growth supported by a strong innovation pipeline and current product successes, improving trends in our large heritage brands, emerging markets and our high-growth channels and brands. With the agility we have created, we will continue to strategically invest in growth opportunities, even in the face of softness and challenges in certain markets. With half of the year behind us, we are reaffirming our full fiscal year constant currency net sales growth estimate of 5% to 6% and earnings per share of 7% to 10%, excluding the effect of the retailer orders accelerated into fiscal 2014 from the rollout of our Strategic Modernization Initiative”.
In addition to net sales, the change in operating income in each of the Company’s product categories was unfavorably impacted by the strength of the U.S. dollar in relation to certain currencies. Total operating income in constant currency increased 2%.
Skin Care
Makeup
Fragrance
Hair Care
Diseñadores, creativos y celebrities están trabajando a contrarreloj para que este lunes salga todo perfecto… Read More
España ya es uno de los destinos favoritos de los turistas para los meses de… Read More
Serán pocas las personas que a estas alturas no hayan oído hablar de Beyoncé. La… Read More
Elon Musk, el CEO de Tesla, es una figura que ha definido el paradigma de… Read More
A pequeños males, grandes remedios. Eso debió de pensar Apple cuando presentó los primeros AirPods… Read More
Los amantes de la alta gastronomía y el vino tienen una cita imprescindible el próximo… Read More
Este sitio utiliza cookies para prestar sus servicios y analizar su tráfico. Las cookies utilizadas para el funcionamiento esencial de este sitio ya se han establecido.