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Estée Lauder Posts Strong Holiday Sales on Retail, U.S. Recovery – WWD

Estee Lauder Cos. Reported a record holiday quarter, bringing in $4.85 billion in revenue.

Manufacturer of MAC, Clinique and Tom Ford Beauty showed a 14% increase in sales for the quarter ended December 31, thanks to a recovery in Western markets and strong online sales.

Lauder posted income was $1.09 billion, up from $870 million in the same period a year earlier.

“We achieved record revenue and profit in the second quarter of fiscal 2022, driven by the timeless strength of our brands and despite the volatility and rapid change, as well as supply chain challenges, from the pandemic,” said Fabrizio, president and chief executive officer of Lauder, Freda in a statement. “Every major category, region and channel is expanding, demonstrating the power of the multiple engines of our growth strategy. We have captured the favorable dynamics of skin care, perfumery, Western and traditional developed markets, and continue to prosper in the East with Chinese consumers, also as in global travel retail and global online. ”

Freda said Lauder did well throughout 11/11 and the holiday season.

Skin care net sales in the quarter rose 12% year-over-year to $3.2 billion. La Mer and Clinique both posted strong double-digit growth, led by hero products. Lauder received an $81 million goodwill charge related to Glamglow during the quarter.

Makeup sales jumped 11% to $1.4 billion, but that hasn’t eclipsed pre-pandemic levels. Lauder says sales have picked up as consumers find themselves with more “time to use” and Estée Lauder, MAC, Too Faced, Tom Ford Beauty and Smashbox did well. The company says Estée Lauder’s Double Wear and Futurist lines also work well.

Perfume sales grew 29% in the quarter, to $799 million. Jo Malone saw strong net sales growth, driven by English Pear & Freesia, its holiday and bathing, body and home collections. Tom Ford, Le Labo and Kilian Paris also contributed to the development.

Hair sales rose 17%, thanks to salon openings, to $180 million in the quarter.

By region, the Americas was the fastest-growing geographic region for the quarter, with a 24% year-over-year increase to $1.3 billion in sales. Sales have begun to pick up in the US, Canada and Latin America as people return to stores.

Europe, the Middle East and Africa saw revenue grow 15% in the quarter to $2.3 billion. The UK saw the strongest recovery for Lauder, while also recording significant gains in the makeup and fragrance sectors.

Asia/Pacific grew 7% in the quarter to $1.9 billion, driven by China, Australia and Southeast Asia.

For the six months ended December 31, Lauder posted revenue of nearly $10 billion — $9.93 billion — up 18 percent year-over-year. Net income is 1.78 billion dollars.

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https://wwd.com/beauty-industry-news/beauty-features/estee-lauder-sales-increase-holiday-1235061284-1235061284/ Estée Lauder Posts Strong Holiday Sales on Retail, U.S. Recovery – WWD

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