01.21.10
Estée Lauder is putting a beautiful face forward in its latest financial report. The cosmetics marketer, whose brands include namesake Estée Lauder, MAC and Clinique, estimates a profit of $1.23 to $1.30 per share for the quarter ended Dec. 31, 2009 - compared with the 80 cents to 87 cents per share in adjusted profit predicted in October.
The upward adjustment in projections resulted from “stronger net sales, favorable product mix and the positive effect of continued cautious spending,” according to reports.
The company also said it expects revenue to grow by 10-11% for the quarter. The improved sales reflect continued strong growth in Asia, the performance of its retail travel business, holiday sales results and favorable foreign exchange rates, according to Estée Lauder.
The upward adjustment in projections resulted from “stronger net sales, favorable product mix and the positive effect of continued cautious spending,” according to reports.
The company also said it expects revenue to grow by 10-11% for the quarter. The improved sales reflect continued strong growth in Asia, the performance of its retail travel business, holiday sales results and favorable foreign exchange rates, according to Estée Lauder.