Estée Lauder exceeded sales expectations in the first quarter and saw a recovery in China. Initial signs indicate that CEO Stéphane de La Faverie’s strategy is paying off.
China is growing again
From July to September, sales rose 3.6% year-on-year to US$3,480 million (€3,236 million), exceeding analysts’ forecasts of US$3,380 million (€3,143 million). Net profit was US$47 million (€44 million), compared with a forecast of US$52 million (48 million euros).
