The prestige beauty industry is gradually coming back, said Estee Lauder Cos Chief Executive Fabrizio Freda in an interview with Dow Jones Newswires on Thursday.
The company’s surging fiscal second-quarter earnings certainly seem to support that viewpoint.
Estee Lauder Cos, which owns Clinique and MAC as well as its namesake line, said that for the quarter ended 31 December earnings rose to USD256.2 million, or USD1.28 a share, from USD158 million, or US80c, a year earlier. Analysts surveyed by Thomson Reuters were expecting earnings of USD1.21 a share.
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