For the six months ended Dec. 31, 2012, the company reported a 5% increase in net sales to $5.48 billion. Net sales grew in each of the company’s geographic regions and major product categories.
Estée Lauder began the second half of its fiscal year by successfully launching another wave of its Strategic Modernization Initiative in early January, a key driver to achieving additional long-term efficiencies, according to Fabrizio Freda, president and chief executive officer.
“Our recent increased strategic marketing spending behind key innovations and existing winning products in countries with good momentum should help drive sales growth in coming months,” he said.
Looking ahead, Freda expects continued solid growth in the US and many emerging markets and e-commerce and improving trends in travel retail. For the full fiscal year, Estée Lauder is re-affirming its sales growth forecast of between 6% and 7% in local currency.
Although the global prestige beauty industry continues to experience mixed results and overall growth has slowed from the prior year, the company’s performance was broad-based, generating local currency sales gains in each of its geographic regions and major product categories, according to Lauder. Sales growth was solid in the US and certain developed countries and strong overall in emerging markets.