In Brief: Estée Lauder Upward Revision

Estée Lauder's upward adjustment in projections resulted from “stronger net sales" and a "favorable product mix."

The Estée Lauder Cos. Inc. said late Wednesday its second-quarter earnings are expected to land between $1.23 and $1.30 a diluted share on sales growth of 10 to 11 percent. Upon reporting first-quarter results in late October, earnings per share, excluding charges, were projected to hit 80 cents to 87 cents on sales that ranged between flat and up 3 percent. The upward adjustment in projections for the quarter ended Dec. 31 resulted from “stronger net sales, favorable product mix and the positive effect of continued cautious spending.” Growth remained strong in Asia, and there were better-than-expected results for the holiday season as well as the company’s travel retail business. The firm is scheduled to report results on Jan. 28.

This story first appeared in the January 21, 2010 issue of WWD.  Subscribe Today.