Estée Lauder Posts Double-Digit Sales, Earnings Jump

The Estée Lauder Cos. posted an 11 percent net sales gain and 19 percent earnings jump for the first quarter of fiscal 2020. Net sales increased to $3.9 billion in the quarter, from $3.52 billion in the prior-year period. Net earnings were $595 million, up from $500 million in the prior-year period. Diluted net earnings per common share increased 21 percent to $1.61. Lauder’s growth continues to be fueled by China, skin care and travel retail. “Our winning strategy based on multiple engines of growth helped us deliver an extraordinary performance, especially in light of the volatile global environment, reflecting the agility and resiliency we have created in our business model,” said Lauder president and chief executive officer Fabrizio Freda in a statement. He called out emerging markets and online channels as additional sources of growth, and noted that Lauder’s big brands are growing. “All four of our biggest brands, each with annual sales well over $1 billion, grew globally. That demonstrates the enduring consumer interest in established brands and their proven, desirable products,” Freda said. “Improved data analytics and consumer insights fueled our successful innovations and digital marketing, and our hero franchises continued to power our portfolio.” Skin care remained Lauder’s powerhouse category, jumping

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