Estée Lauder Cos. Inc. reported third quarter revenue of $1.4 billion, a 15.2% jump from $1.23 billion one year ago.
Income was $98.3 million, compared to $77.9 million. The quarter ended March 31.
The company cited a boost in European sales by a strong travel business and better-than-expected U.S. growth from the improving economy as well as the recent strong retail environment. Makeup sales were particularly strong this quarter and sales were up in all product categories due to new product introductions and solid sales of existing products, the company said.
The skin care products category increased 19% to $559.1 million; makeup sales rose 22% to $59.1 million; fragrance sales jumped 12% to $203.4 million and sales of hair care products rose 15% to $61.3 million. Sales rose 9% in the U.S. to $783.1 million and 25% in Europe, the Middle East and Africa to $453.1 million.
The company will continue to increase advertising spending to further build brand equity, while holding the line on other expenses, COO William P. Lauder said in a statement.
For the nine months ended March 31, the company reported revenue of $4.39 billion, up 13% from $3.88 billion.
The New York-based company owns Clinique, M-A-C, Aveda and Bobbi Brown brands.
Company founder Estée Lauder died last Saturday at age 97.
Network
