The Estee Lauder Companies has reported its results for the second quarter of fiscal 2019. The US prestige beauty giant is hailing its performance as ‘outstanding’ with sales breaching the US$4 billion barrier for the first time thanks to a 7 percent uplift.
Sales rose in nearly all product categories, regions and channels but skin care delivered the most impressive rise with sales soaring 16 percent to US$1.732 billion, compared to make-up’s more modest 3 percent uplift to US$1.560 billion. In terms of geographic regions, Asia Pacific was the highlight, growing 17 percent to US$1.020 billion.
“We delivered an excellent performance in our fiscal second quarter,” said Fabrizio Freda, President and Chief Executive Officer. “Importantly, this was our eighth consecutive quarter of impressive net sales growth that met or exceeded our long-term goal, all while navigating many global macro issues. Our sustained progress is the result of our multiple engines of growth strategy, and demonstrates our agility in moving resources to the best global opportunities, Our earnings per share in the second quarter grew more than twice the rate of net sales in constant currency, delivering an impressive first-half performance.
“With confidence in our continued ability to execute effectively and grow share in prestige beauty, while simultaneously making strategic investments in our business, we are raising our net sales and EPS guidance for the year.”