Cosmetics: Estée Lauder: Q2 2013 results top expectations, confidence reiterated for 2013
Yesterday afternoon, Estée Lauder reported better-than-expected Q2 2013 results (quarter ending 31st December 2012). Q2 2013 sales came in at USD2.93bn (consensus: USD2.90bn) with lfl growth of 7%, i.e. in the upper range of the company's guidance (+6-7%). On the back of solid growth in the US and buoyant activity in emerging markets, EL reiterated its FY 2013 guidance for sales growth of 6-7% at constant FX. Positive read-across for L’Oréal ahead of its FY 2012 results released on 11th February.
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