Lauder Forecasts 7%-8% Sales Growth In FY 2020 Despite Cooling In Key Markets
Amid global recession fears, Lauder anticipates continued double-digit growth in fiscal 2020 in China and travel retail, albeit at slower rates than seen in recent years. The firm booked 9% reported sales growth to roughly $14.9bn for the fiscal 2019 full year, fueled by a record-setting innovation program.
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“With some products facing tariffs as high as 30%, many businesses will have no choice but to pass along those costs to consumers,” an industry coalition called Americans for Free Trade asserted in an August letter to President Donald Trump in response to proposed escalations of tariffs on Chinese goods. “Price increases will likely hit shoppers just as they are making their holiday purchases,” the group noted.
Over the fiscal 2019 first half, “we've continued to expand our market share across most categories, increased our brand awareness, delivered double-digit growth in active loyalty members, increased traffic and delivered double-digit growth in almost every key merchandise category,” said Ulta CEO Mary Dillon 29 August. However, worsening makeup trends have induced the firm to reset full-year targets.