Estee Lauder Net Sales Wanes by 64%
- Chaileedo Press
- Feb 3, 2023
- 3 min read
Estee Lauder Company is confident that it will return to growth in the fourth quarter of fiscal 2023 as Chinese consumers gradually resume international travel and other factors.
On February 2, Estee Lauder released its financial results for the first half of fiscal year 2023 (July-December 2022), with net sales for the first half of the year at $8.55 billion, down $9.2 billion or 14% year-on-year, marking the lowest growth in nearly 10 years.
According to Estee Lauder Company's financial report, from October to December last year, the company's sales fell 17% year-on-year to $4.62 billion, and net sales fell 64% year-on-year to $390 million.
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