HBW Insight is part of the Informa Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Estee Lauder revises guidance

This article was originally published in The Rose Sheet

Executive Summary

The Estee Lauder Companies will lower its sales and earnings per share guidance for the second quarter of fiscal 2009 and its full year. Move reflects "the deteriorated global economic conditions during the quarter" and further uncertainty about consumer spending and market conditions in the near future, firm says Jan. 16. Second-quarter sales are now expected to slip 6% from prior-year figures on a constant currency basis; currency exchange rates will lower reported sales 6.5%. Previously Lauder forecasted 2%-3% sales growth. Diluted net earnings per share will be $0.75-$0.82. Lauder says it expects current retail trends to continue in North America for the rest of the fiscal year; meanwhile growth will fall off in Europe, the Middle East and Africa. Firm retains a "cautiously positive" outlook for Asia/Pacific region. New outlook for fiscal 2009 has net sales flat to down 3% on a constant currency basis. Foreign currency translation is expected to depress sales 5%-7%, with diluted net earnings per share between $1.30 and $1.60. CEO William Lauder says firm is taking steps to protect its business during the economic downturn, "including making prudent investments to support our brands while diligently controlling expenses.
Advertisement
Advertisement
UsernamePublicRestriction

Register

RS015902

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel