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Expects improvement in most business areas partially offset by continued soft consumer sentiment in China in fiscal 2025.
While second half results rebounded a bit, fiscal 2024 sales fell 2% to $15.61 billion at The Estée Lauder Companies Inc. Net earnings declined 60% to $390 million. Organic net sales decreased 2%, primarily reflecting ongoing softness in the mainland China prestige beauty in mainland China and a decline in Asia travel retail. Partially offsetting these declines was growth in Hong Kong SAR, Europe, the Middle East & Africa (“EMEA”), Japan and Latin America. Declines in Skincare, Makeup and...
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