Lauder shows sharp rise in full year results
Beauty giant ‘surpasses financial goals’
The Estée Lauder Companies (ELC) has announced encouraging full year results as its net sales grew 6% on the previous year to $7.80bn. The company saw its largest ever full-year increase in operating income and operating market since becoming a public company in 1995. Net earnings jumped to $478.3m, compared to $218.4m a year ago.
“In fiscal 2010 we surpassed our own financial goals,” said president and ceo, Fabrizio Freda. “We closed the year with an outstanding performance. Looking to 2011 we intend to build upon the solid foundation that we established this past year and we will increase our investment spending behind advertising, merchandising and sampling for major initiatives on our biggest brands and markets.”
ELC predicts similar achievements in 2011 with net sales expected to grow between 6% and 8%.