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Solid performances from Estée Lauder travel retail business
02
Feb '08
The Estée Lauder Companies Inc reported $2.31 billion in net sales for its fiscal second quarter ended December 31, 2007, a 16% increase over the $1.99 billion reported in the prior-year quarter. Excluding the impact of foreign currency translation, net sales rose 11%.

The Company reported net earnings for the quarter ended December 31, 2007 of $224.4 million, an 8% increase compared with $208.4 million last year. Diluted net earnings per common share for the quarter rose 16% to $1.14 compared with $.99 reported in the prior year.

William P. Lauder, President and Chief Executive Officer said, "In our second quarter, we produced across-the-board sales gains in our geographic regions and product categories. A favorable currency environment further aided our strong top-line growth.

Solid overall global performances from our travel retail business, freestanding retail stores, internet distribution and most brands contributed to our overall results this quarter.

Our top- and bottom-line gains were led by our international operations, which continued their steady growth pace. Sales in the United States this holiday season reflected the soft retail backdrop, particularly in department stores.

"Despite a slowdown in consumer spending in the U.S., I believe we can achieve our profit objectives through ongoing cost containment efforts and disciplined expense control. With this view, we continue to forecast earnings per share of $2.28 to$2.40 for the full 2008 fiscal year."

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The Estée Lauder Companies Inc


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