By  on November 12, 2013

The Estée Lauder Cos. Inc. annual meeting on Tuesday morning served as a victory lap for the company with president and chief executive officer Fabrizio Freda, touting a record-breaking year in which sales surpassed $10 billion for the first time.

“We have reason to celebrate,” Freda told shareholders, adding that the company’s operating margin reached a high of 15.2 percent in fiscal 2013.

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