Breaking News

Estée Lauder Posts Loss In Fiscal Fourth Quarter

November 11, 2005

Estée Lauder Cos. reported a net loss for its fiscal fourth quarter. The company blamed the $25.4 million loss on cost-cutting initiatives and the repositioning of certain businesses. The latest results include a charge of $76.9 million, or $.32 a share, for restructuring and repositioning. The restructuring moves are aimed at cutting costs in the company’s internet business and its supply chain, globalization of the organization and refining its distribution channel, executives said. Excluding these costs, the company earned $51.5 million. Fourth quarter sales rose 7.8% to $1.13 billion from $1.05 billion.

For the full fiscal year, Estée Lauder reported net income of $191.9 million, or $.70 a share, down 37% from $305.2 million, or $1.16 a share, the previous fiscal year. Sales rose 1.6% to $4.74 billion from $4.67 billion.

“Sustaining sales growth for the fiscal year just ended was quite an accomplishment given the difficult retail environment that challenged our businesses and led to lower overall results,” president and chief executive Fred H. Langhammer said in a statement.
  • Skin of Color Society Connects Experts

    Skin of Color Society Connects Experts

    Melissa Meisel, Associate Editor||January 16, 2017
    Dermatologists from across the nation share information and ideas.

  • Erasa

    Erasa's New Evangelist(a)

    January 9, 2017
    Impressed by the performance of its hero SKU, supermodel Linda Evangelista joins the company in a hand's on role.

  • Discourse on Disclosure

    Discourse on Disclosure

    Tom Branna, Editorial Director||January 6, 2017
    Transparency impacts the cleaning industry.

  • Hitting the Right Notes

    Hitting the Right Notes

    January 6, 2017
    Agilex Fragrances is the leader in the middle market fragrance category.

  • The Smell of Clean in 2017

    The Smell of Clean in 2017

    January 6, 2017
    Changing consumer lifestyles and demographics are impacting the scents found in the household cleaning category.

  • On the Edge

    On the Edge

    January 6, 2017
    Expanding beauty brands to watch in 2017