The U.S. cosmetics group Estée Lauder announced Friday, October 16 that its first quarter results for its fiscal year ended September 30, would “significantly” better than it had announced last month.
“Following better than expected sales and prudent spending, the group expects earnings per share excluding restructuring costs,” significantly higher “than the 23 to 30% that was left to wait for the last three months. Analysts predict for their share of 26%.
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For the full year 2009-10, “the company remains cautious about the global economic climate and consumer spending,” but she also plans to boost its earnings forecast per share, currently set between 1.55 and $ 1.70. The market expects $ 1.69.
The company said the year was marked by “an acceleration in investment spending beyond levels the first quarter, which was characterized by a cautious response to the crisis and fears of the impact swine influenza (A/H1N1).
Among the positive factors on the period from July to September, Estée Lauder said successful launches, “the continued strong growth in Asia, greater attendance at travel shops” and improved the exchange rate effect.
“The company has also benefited from deliveries associated with Christmas and New Year” earlier than she had expected.
The action Estée Lauder jumped 5.75% to 41.37 dollars around 1530 GMT in a falling market to the NYSE.
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Tags: cosmetics group, Estée Lauder, NYSE, travel shops