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Estée Lauder achieves record fiscal year

Fabrizio Freda, CEO, The Estée Lauder Companies

Fabrizio Freda, CEO, The Estée Lauder Companies

The Estée Lauder group has reported a strong financial performance for its fourth quarter and fiscal year ended June 30, 2013.

For the year, the company achieved record net sales of US$10.18 billion, a 5% increase compared with US$9.71 billion in the prior year. Excluding the impact of foreign currency translation, net sales increased 6%.

Fiscal 2013 marked another record year in which our company achieved a number of historic milestones: US$10 billion in net sales, 15.2% operating margin and US$1 billion in net earnings. Looking at a broader picture, we once again posted sales growth that we believe was greater than global prestige beauty, and achieved strong across-the-board sales gains in each of our geographic regions and major product categories. This year we also advanced our strategic priorities, including enhancing our business in skin care, emerging markets and fast-growing distribution channels. We expect our strong momentum to extend into fiscal 2014,” said Fabrizio Freda, President and Chief Executive Officer.

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© 2013 - Premium Beauty News - www.premiumbeautynews.com
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