Lauder FY 2005 Sales Driven By Skin Care, Makeup Revenues
This article was originally published in The Rose Sheet
Executive Summary
Estee Lauder will reallocate advertising and promotional spend from fragrances to support makeup and skin care in fiscal 2006, the company said during an Aug. 16 fourth quarter and year end earnings call
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Estee Lauder
Company expects distribution diversification efforts will result in North American department stores comprising 37% of sales, with international department stores reflecting 24% and perfumeries 14%, by 2006, firm says during Oppenheimer Business of Beauty, Health & Fitness conference Sept. 14. North American department stores accounted for 46% of sales in 2002, Lauder notes. Firm expects recently unveiled strategic modernization plan, which will be implemented over the next four to five years, to yield annual savings of $80 mil. by 2010 (1"The Rose Sheet" Aug. 22, 2005, p. 3). Lauder also reiterates fiscal 2006 sales guidance; revenues are expected to grow 5.5%-6.5% to $6.7 bil...