(AOF) – The American cosmetics company Estée Lauder presented disappointing annual objectives due to the Covid in China. Over the 2022 financial year, it is targeting adjusted earnings per share growth of 5% to 7% at constant exchange rates and revenue growth of 7% to 9% organically. Analysts polled by IBES expect growth of 10.5% and 7.6% respectively.
In the fourth quarter, which ended in late June, net profit fell 95% to $52 million, or 14 cents per share. Excluding exceptional items, earnings per share were 43 cents per share at constant exchange rates. Sales fell 10% to $3.56 billion. They experienced a decrease of 8% like-for-like.
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The axis of sustainable development now a priority
This is one of the strongest expectations of customers aged 25 to 40, who represent a growing proportion of sales. This also represents an advantage in recruitment for major luxury brands. LVMH, Fendi, Imperial College London and Central Saint Martins UAL have teamed up on a two-year research project to develop new biotextiles for fur in the sector. Recently the manifesto for a regenerative fashion, developed in partnership with the Alliance for the circular bioeconomy (CBA) was signed by Burberry, Chloé, Stella McCartney, or Armani. As for Kering, it has developed a tool that measures its CO2 emissions, water consumption and land use throughout the supply chain.