×
71 925
Fashion Jobs
UNDER ARMOUR
Stock Teammate, Part-Time 5am-10am Shift, $15 Per Hour
Permanent · LEHI
UNDER ARMOUR
Stock Teammate, Part-Time 5am-10am Shift, $15 Per Hour
Permanent · LUTZ
UNDER ARMOUR
Warehouse Administrator, Transportation Direct Ship (Mon-Fri 7:00am to 3:30pm $18.25)
Permanent · RIALTO
UNDER ARMOUR
Manager, Inventory Control And Quality Assurance (Night Shift) Tues-Fri 4pm to 2:30am $43.06
Permanent · RIALTO
UNDER ARMOUR
Manager, Inventory Control And Quality Assurance (Icqa)
Permanent · SPARROWS POINT
UNDER ARMOUR
Stock Teammate, Part-Time 4am-10am Shift, $15 Per Hour
Permanent · NORFOLK
ON RUNNING
Director, Internal & External Communications North America
Permanent · NEW YORK
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15.25 Per Hour
Permanent · SACRAMENTO
UNDER ARMOUR
Operations Manager, Team Sales
Permanent · BALTIMORE
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Bloomie's
Permanent · FAIRFAX
BLOOMINGDALE'S
Asset Protection Supervisor, Full Time - Bloomie's Old Orchard
Permanent · SKOKIE
OLD NAVY
Assistant General Manager - Alameda so. Shore ct
Permanent · ALAMEDA
NEWELL
Manager, Human Resources
Permanent · PATASKALA
ECCO
Import Logistics Manager (Hybrid)
Permanent · LONDONDERRY
DECKERS
1st Shift Inventory Control Cycle Counter/Equipment Operator
Permanent · MORENO VALLEY
DECKERS
Stock Lead, Deckers Brands
Permanent · GOLETA
DECKERS
sr. Product Line Manager, Performance - Hoka
Permanent · PORTLAND
DECKERS
Retail Operations Coordinator
Permanent · GOLETA
DECKERS
Sales Operations Coordinator, Canada & Latin America
Permanent · GOLETA
DECKERS
Vice President, Global Marketing - Hoka
Permanent · GOLETA
DECKERS
Loss Prevention & Safety Manager
Permanent · MORENO VALLEY
DECKERS
Hoka Account Executive - st. Louis
Permanent · ST. LOUIS
By
Reuters API
Published
Oct 31, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Estee Lauder sales beat as China demand booms, shares up 7 percent

By
Reuters API
Published
Oct 31, 2018

Estée Lauder Cos Inc joined rival L’Oreal in dismissing fears of a slowdown in China as its quarterly results beat Wall Street estimates on Wednesday on booming demand for cosmetics and high-end skincare products in the Asian country.


Net sales rose nearly 8 percent to $3.52 billion Photo: Jo Malone London, an Estee Lauder brand


The company’s shares rose 7.3 percent to $140.74 before the opening bell.

Despite concerns about the knock-on effect of U.S.-China tariff dispute on consumers in China, Estée saw double-digit sales in the country with almost all product categories - hair care, makeup, fragrance and skin care- growing at the same pace.

In China, Estée has launched several high-end skincare brands and collaborated with Chinese celebrities like Yang Mi, Hua Chenyu and Fei Fei Sun to cater to more affluent millennial consumers in China.
Overall, sales in the Asia-Pacific region grew 24 percent.

“Our top growth drivers were skin care globally, the Asia/Pacific region and emerging markets, the global online and travel retail channels, and most brands, including Estée Lauder, M•A•C, La Mer, Tom Ford and Origins,” Chief Executive Officer Fabrizio Freda said in a statement.

Estée’s performance mirrors bigger rival L’Oreal SA that reported strong results on buoyant demand in China.

L’Oreal CEO Jean-Paul Agon told analysts on Tuesday that “Luxury in Asia is flying,” and that he saw “absolutely no sign of a slowing down of consumption in China.”

Fashion brands like Gucci-owner Kering and Italian down jacket maker Moncler have also played down gloomy market views on China.Estée said it would grow at a faster clip than the broader global prestige beauty industry’s market growth rate of 5 percent to 6 percent.

It expects net sales to rise 4 percent to 5 percent or between $14.24 billion and $14.38 billion. Analysts on average expected $14.31 billion, according to Refinitiv data.

The company raised its fiscal 2019 adjusted earnings per share outlook to $4.73-$4.82, above its prior forecast of $4.62-$4.71. Analysts had estimated $4.75 per share.

The outlook takes into account the impact of tariffs on future moderation of net sales growth in China and the travel retail market, which it has not experienced to date, Estée said.

Excluding items, the company earned $1.41 per share, while net sales rose nearly 8 percent to $3.52 billion in the first quarter. Analysts on average had expected earnings of $1.22 per share and $3.47 billion in sales.

© Thomson Reuters 2023 All rights reserved.