Reuters
Feb 3, 2011
Estee Lauder profit soars, raises expectations
Reuters
Feb 3, 2011
CHICAGO, Feb 3 (Reuters) - Estee Lauder Cos Inc (EL.N) posted a higher quarterly profit, as shoppers scooped up face cream and cosmetics during the important holiday selling season, leading the company to raise its expectations for the fiscal year.
![]() Estee Lauder |
The maker of Clinique, M.A.C. and other cosmetics earned $343.9 million, or $1.71 per share, in the fiscal second quarter ended on Dec. 31, up from $256.2 million, or $1.28 per share, a year earlier.
Earnings per share excluding items rose 38 percent to $1.77, topping analysts' average forecast of $1.44, according to Thomson Reuters I/B/E/S.
Sales jumped 10 percent to $2.49 billion, coming in ahead of analysts' average forecast of $2.42 billion.
Estee Lauder expects to earn $3.40 to $3.60 per share for the full year before restructuring charges, up from an October forecast of $2.90 to $3.10 per share. It expects sales to rise 8 percent to 10 percent, up from its prior target of 7 percent to 9 percent. (Reporting by Jessica Wohl; Editing by Derek Caney)
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