Global beauty retail group, the Estée Lauder Companies Inc. has reported outstanding financial results for its fiscal year ended June 30, 2019. The group’s net sales of $14.86 billion increased 9% from $13.68 billion in the prior year. The company posted net sales growth of 12%, including international business and nearly all product categories.
Commenting on the results, Fabrizio Freda, president and CEO, Estée Lauder Companies, said, “Fiscal 2019 was an outstanding year for our Company. We achieved strong net sales gains across our business, fuelled by investments in our strategic priorities, including improved data analytics that helped power our innovation and digital marketing. Our winning strategy led to continued share gains in global prestige beauty.”
“Many engines drove our growth. They included: nearly every market in the Asia/Pacific region and many other important emerging markets around the world; our skin care category in every region; the travel retail and online channels globally; and compelling innovations and high-quality products, which drove strong repeat purchases. Globally, three of our four largest brands grew strongly as did many of our small and mid-sized brands. Our results were particularly impressive given macro volatility and challenges in several key markets demonstrating our successful strategy of multiple engines of growth and our agility to reallocate resources to the best opportunities,” added Freda.
“We ended the year with a strong fourth quarter, driven largely by the same growth engines we had throughout the year. Additionally, we saw modest improvement in our U.S. business despite a tough retail environment,” he concluded.