Estee Lauder Says Expected Q3 China Slowdown Didn’t Happen; More Financial News In Brief
Lauder again hikes its full-year net sales guidance after beating expectations with 11% reported growth in the fiscal 2019 third quarter. Coty reports on its turnaround progress, and Revlon points to optimistic improvements that drove Q1 constant-currency net revenue growth of 2.3%.
You may also be interested in...
Back in April, CEO Noel Wallace noted Colgate’s interest in further skin-care M&A during his first quarterly presentation at the firm’s helm. The Filorga purchase is significantly bigger than 2018 deals that whet Colgate’s appetite for high-growth, high-margin skin care and represents a gateway to the fast-growing travel retail channel.
The French cosmetics giant continues to benefit from Chinese millennials with voracious luxury appetites, posting 14% like-for-like growth in its Luxe division for the fiscal 2019 first quarter. L’Oreal’s Consumer Products business is improving as well, with a return to growth in Western Europe, while North America continues to struggle.
Prestige skin care continues to win big with young Chinese consumers, and makeup demand is picking up, according to Lauder leadership. Overall, the firm’s Asia/Pacific sales climbed 17%, reported, to $1.02bn, helping to offset continued declines in the Americas.