Estee Lauder Companies Inc.
Latest From Estee Lauder Companies Inc.
“With some products facing tariffs as high as 30%, many businesses will have no choice but to pass along those costs to consumers,” an industry coalition called Americans for Free Trade asserted in an August letter to President Donald Trump in response to proposed escalations of tariffs on Chinese goods. “Price increases will likely hit shoppers just as they are making their holiday purchases,” the group noted.
The Estee Lauder Companies has been working to realign its US business in order to meet consumers where they increasingly shop, while contending with a massive influx of indie brands. CFO Tracey Travis discussed US challenges, as well as the company’s continued optimism about China, at the Barclays Global Consumer Staples Conference 4 September.
Over the fiscal 2019 first half, “we've continued to expand our market share across most categories, increased our brand awareness, delivered double-digit growth in active loyalty members, increased traffic and delivered double-digit growth in almost every key merchandise category,” said Ulta CEO Mary Dillon 29 August. However, worsening makeup trends have induced the firm to reset full-year targets.
Amid global recession fears, Lauder anticipates continued double-digit growth in fiscal 2020 in China and travel retail, albeit at slower rates than seen in recent years. The firm booked 9% reported sales growth to roughly $14.9bn for the fiscal 2019 full year, fueled by a record-setting innovation program.
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