USA: Estee Lauder raises earnings guidance

It has been announced that Estee Lauder Cosmetics Inc, has raised full-year earnings-per-share guidance for 2014.

The company said growth was based on prestige beauty, new product launches and stabilising international markets, and follows a recent announcement by the company that it had recorded double-digit growth in both profits and sales in the third sales.

Estee Lauder President and CEO Fabrizio Freda commented: “We had a terrific quarter, with all engines of growth working well. The peculiarity of this quarter was that we are growing in every single region, in every single brand, in every single category…despite [softer markets in the] U.S. and China”.

According to Pambianco News, for the three months ending March 31, net income gained 19.2% to $213.2 million, up from $178.8 million dollars a year ago.

Source: Pambianco News