The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Estee Lauder Companies Inc. on Friday reported fiscal second-quarter earnings of $446.2 million.
On a per-share basis, the New York-based company said it had profit of $1.19. Earnings, adjusted for non-recurring costs, came to $1.22 per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The beauty products company posted revenue of $3.12 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $3.07 billion.
Estee Lauder shares have fallen 1 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen slightly more than 6 percent. The stock has climbed 20 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.