Estée Lauder will introduce new products developed by a local team especially for its Chinese consumers in the fourth quarter (Q4) this year as part of efforts to accelerate innovation.
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The US-based beauty giant has published results exceeding analysts’ expectations in the third quarter of its 2024 fiscal year. However, the group maintained annual sales drop expectations despite return to growth in Asia.
The Estée Lauder Companies reported net sales of USD 3.94 billion for its third quarter ended March 31, 2024, an increase of 5% from USD 3.75 billion in the prior-year period.
On a comparable basis, net earnings per common share increased to USD .97, compared to USD .47.