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Estee Lauder raises annual forecasts on resilient demand ahead of holiday season

By Reuters News

By Arriana McLymore

Nov 2 (Reuters) - Estee Lauder EL.N raised its annual sales and profit forecasts on Monday, banking on resilient demand for its premium skincare and fragrance brands ahead of the holiday season as CEO Stephane de La Faverie's year-long turnaround efforts boost growth.

"Growth is accelerating, profitability is strengthening significantly, and the impact of Beauty Reimagined is becoming increasingly evident across our business," de La Faverie said in a statement.

The company's quarterly sales rose 7% to $3.72 billion, from a year ago. Analysts expected it to be up about 5% to $3.65 billion, according to data compiled by LSEG.

Consumers, particularly affluent and younger groups, have continued to indulge in high-end skincare and fragrance purchases despite economic uncertainty, strengthening sales for Le Labo, Tom Ford and Jo Malone London.

As part of the CEO's 'Beauty Reimagined' strategy, Estee Lauder has been focusing on faster innovation, expanding into new channels and markets, leveraging AI for consumer insights and marketing, increasing consumer-facing investment, streamlining operations and saving costs by trimming roles.

The company raised its outlook and now expects fiscal 2027 organic sales to grow between 4% and 5.5%, compared with its prior forecast of a 3% to 5% rise.

It also expects annual adjusted profit to be in the range of $3.20 to $3.45 per share, compared with its earlier forecast of $3.10 to $3.35.

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