RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Subscribe
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
thumb
Written by Pauline Neerman
In this article
  • Companies Estée Lauder
  • Topics Financial results
  • Geography ChinaEuropeUnited States
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

Estée Lauder faces less rosy outlook without China

icon
Beauty/Care4 May, 2022
Shutterstock

Estée Lauder is lowering the bar, now that serious restrictions have returned to China and the Russian market is gone. The cosmetics group also announces its third price increase in a year.

Growth everywhere except Asia

Estée Lauder will have to settle for less this year, as new lockdowns in China weigh down sales. For the full financial year, the cosmetics group is now expecting net sales growth of 7 to 9 %, well below the 13 to 16 % it had originally assumed. The expected earnings per share are being lowered from 7.28-7.47 dollars to just 6.54 – 6.70.

In the past quarter, sales increased by 10 % to 4.25 billion dollars (4 billion euros), although analysts had expected a little more. However, quarterly profit exceeded forecasts and amounted to 2.97 dollars per share. There was growth in all regions except Asia, which partly compensated for the decline in China. The group’s net sales in the Asia-Pacific region fell by 4 %.

Biting the bullet

“There is no doubt that these current limitations in China will prove to be transitory, although there will be a far greater impact on our results in the fourth quarter than they were in the third quarter”, CEO Fabrizio Freda told Financial Times. The war in Ukraine is also affecting the company, as Estée Lauder, like most brands, has suspended its Russian operations since March.

The skincare segment in particular was the growth engine this quarter and accounted for a 6 % increase in sales. Premium brand La Mer is the star of the range, although the setback in China partially offset the double-digit growth in other regions. The company will raise prices in July for the third time this fiscal year.

Stay up-to-date

Receive our free newsletters and do not miss out on the latest retail news.

Subscribe
logo

Estée Lauder is lowering the bar, now that life is once again being restricted in China and the Russian market is gone.

More on Beauty/Care
See more
  • icon
    Beauty/Care8 May, 2023
    Rituals grows by over a quarter

    Rituals has seen strong growth on all fronts in the last year: the beauty care brand has passed the 1,000 shop mark and also increased its turnover by 28%.

  • icon
    Beauty/Care4 May, 2023
    Higher prices, lower volumes at Henkel

    Henkel sold significantly less in the last quarter. Nevertheless, revenue was higher than expected, thanks to prices that rose by more than 10%.

  • icon
    Beauty/Care27 April, 2023
    Unilever: “more price concessions are impossible”

    Unilever increased its sales by 7% in the last quarter, despite a price increase of more than 10%. Only Europe saw a decline in sales, while beauty and personal care products performed best.

Events
  • 15
    Jun
    Human Resources & People Congress
  • 29
    Jun
    Food Congress
Most read
  • icon
    Fashion28 April, 2023
    H&M merges Weekday and Monki
  • icon
    Leisure16 May, 2023
    Decathlon launches subscription service in Belgium
  • icon
    General15 May, 2023
    Action launches Belgian webshop
  • icon
    Food2 May, 2023
    Flash delivery company Getir now also targets Flink
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform retailhub, where retailers and their suppliers can experience the future of shopping.
RetailDetail Mailing Address:
Kolveniersstraat 7, bus 26 
2000 Antwerp
Visiting address:
Stadsfeestzaal – Meir 78 
2000 Antwerp
How to reach us:
Directions
© 2023 RetailDetail
general conditions | privacy policy
+32 3 500 89 59 info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT