Estee Lauder Companies Navigating Bumpy Stretch, Expects Smoother Sailing In FY 2023 Second Half

The Estee Lauder Companies recorded a sales decline of 10% in the fiscal 2022 fourth quarter, generally in line with revised guidance in May as new China lockdowns were impacting its business. Challenges in China and fragrance license terminations are expected to weigh heavily on fiscal 2023 first-quarter results as well, with improvements in Q2 and, ultimately, 7% to 9% organic growth for the year.

Momentum in the Estee Lauder Companies, Inc.’s US business enabled it to finish fiscal year 2022 slightly ahead of analyst expectations, but pandemic-related shutdowns in China and the termination of licensing agreements will factor in another quarter of negative growth to start fiscal 2023.

In the fiscal fourth quarter ended 30 June, ELC’s sales fell 10% to $3.56bn, a result still above a Zacks...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on HBW Insight for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Business

E.l.f. Expects Sales To Double On International Growth, Rhode Acquisition

 

Oakland, Calif.-based e.l.f. Beauty, Inc. says it expects white space opportunities and the Hailey Bieber rhode lifestyle beauty acquisition to more than double its business in coming years.

NIVEA’s ‘Milestone’ Launch Brings ‘Breakthrough’ Anti-Aging Tech To Masses

 

Beiersdorf is launching NIVEA Epigenetics Rejuvenating Serum with Epicelline, the biggest launch in its history. The range will debut first in Europe, reaching 30 countries by the end of 2025.

Aloette Beauty Referred To FTC For Failing To Participate In Self-Reg Forum Over Earnings Claims

 

Aloette Cosmetics will face the FTC for possible enforcement action after it failed to respond to multiple inquiries by the BBB National Program’s Direct Selling Self-Regulatory Council.

Growing With Purpose – Inside Kenvue’s ‘Healthy Lives Mission’

 
• By 

HBW Insight speaks to Kenvue's global head of sustainability, Jennifer Duran, about the company's “Healthy Lives Mission,” including insights into how the firm is decarbonizing its supply chain, reducing the use of plastics and embedding sustainability into the design of new products.

More from Beauty

Aloette Beauty Referred To FTC For Failing To Participate In Self-Reg Forum Over Earnings Claims

 

Aloette Cosmetics will face the FTC for possible enforcement action after it failed to respond to multiple inquiries by the BBB National Program’s Direct Selling Self-Regulatory Council.

Growing With Purpose – Inside Kenvue’s ‘Healthy Lives Mission’

 
• By 

HBW Insight speaks to Kenvue's global head of sustainability, Jennifer Duran, about the company's “Healthy Lives Mission,” including insights into how the firm is decarbonizing its supply chain, reducing the use of plastics and embedding sustainability into the design of new products.

Senate HELP Committee Adds Sunscreen Regulation Overhaul To OMUFA Reauthorization

 
• By 

OMUFA reauthorization bill including amendment with sunscreen regulation provisions passed by Senate committee, which also approved other provisions not included in House OMUFA bill.