Shares of The Estée Lauder Cos. Inc. hit a new 52-week high after the company posted third-quarter earnings results that beat Wall Street’s estimates.
For the three months ended March 31, net income rose 37.1 percent to $178.8 million, or 45 cents a diluted share, from $130.4 million, or 33 cents, a year ago. Excluding restructuring charges, net income rose 19 percent to $177.8 million, or diluted EPS of 45 cents, in the quarter, compared with 35 cents in the year-ago period. The results were ahead of management’s guidance range of 28 cents to 38 cents and ahead of Wall Street’s expectations of 34 cents. Net sales rose 1.9 percent to $2.29 billion from $2.45 billion.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)