The Estée Lauder Companies Inc. has released its financial results for third quarter fiscal year 2017, which ended on March 31, 2017.
The results
- The company saw net sales reach $2.86 billion, an 8% increase from third quarter 2016's $2.66 billion.
- The skin care segment saw net sales reach $1.105 billion, a 3% increase from third quarter 2016’s $1.073 billion, due to the success of La Mer and Glamglow products.
- The makeup segment saw net sales reach $1.271 billion, a 9% increase from third quarter 2016’s $1.161 billion, due to the acquisitions of Too Faced and Becca Cosmetics as well as Tom Ford, Smashbox, La Mer and Estée Lauder products.
- The fragrance segment saw net sales reach $336 million, a 22% increase from third quarter 2016's $276 million, due to luxury brands such as Jo Malone London, Tom Ford and Le Labo, as well as the acquisition of By Kilian.
- The hair care segment saw net sales reach $19 million, the same as third quarter 2016.
Fabrizio Freda, president and CEO, “We delivered an excellent third quarter performance. Sales accelerated across every geographic region and in our three largest product categories, reflecting the range and strength of our brand portfolio and product offerings. Our business in global travel retail and in China was exceptionally strong, driven by strong sales gains in virtually every brand. Our mid-sized and luxury brands, as well as online and specialty-multi retail channels, also led growth. Additionally, our recent acquisitions of Too Faced and BECCA performed above expectations. These elements contributed to stronger-than-expected constant currency sales growth that, combined with disciplined expense management, resulted in sharply higher earnings per share.”
