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Estée Lauder Net Sales $2.48 Billion for Q1 2012
Posted: November 3, 2011
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In the Europe, Middle East and Africa region, the company recorded net sales of $858.2 million, a 26% increase. The company's travel retail business continued to generate strong double-digit net sales growth in the quarter, resulting from successful product launches and increased distribution. This reflects both an improvement in global airline passenger traffic, particularly in Asia, and stronger conversion of travelers into purchasers, driven by improved marketing and distribution. The U.K., Germany, Italy and the Middle East posted the highest results. Partially offsetting the overall growth were lower results in Russia, primarily reflecting an increase in strategic investment spending. And in the Asia region, net sales of $512.4 were recorded, a 24% increase over 2010. The strongest gains were generated in China, Hong Kong, Korea, Taiwan and Thailand, primarily reflecting strong sales of skin care and makeup products, while Japan and Australia did not report sales increases.
For more from the financial report from Estée Lauder, click here.