Lauder Raises FY 2022 Outlook As Sales Exceed Pre-Pandemic Levels
The Estee Lauder Companies’ net sales in the fiscal 2022 second quarter climbed 14% to $5.54bn, surpassing pre-pandemic results. The New York-based beauty giant raised its full-year sales and earnings guidance, with plans for impactful innovations in addition to strategic near-term pricing.
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L’Oréal is the most valuable beauty brand globally, according to consultancy Brand Finance’s annual report from its methodology ranking 50 most valuable brands in cosmetics, skin care, hair care and personal care. Estee Lauder ranked second.
Estee Lauder says a strict COVID-related lockdown in China prompted an adjustment in full-year sales projections to 7%-9% growth, about half of its was earlier estimate. Global fragrance sales jumped reported 28% in latest quarter to $579m and makeup sales increased 9% to $1.11bn.
“If you took all of these markets where people brush their teeth less than one time a day and just moved it to one time a day, you would increase the volume size of the category by 40%,” noted Colgate-Palmolive’s John Faucher in a 19 May presentation at the Goldman Sachs Global Staples Forum.