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Solid sales performance, but new ‘Leading Beauty Forward’ Initiative calls for workforce reduction globally.
May 3, 2016
By: Christine Esposito
Editor-in-Chief
The Estée Lauder Companies Inc. today reported results for its fiscal third quarter ended March 31, 2016 and announced a new initiative—named Leading Beauty Forward—designed to continue driving sales, reduce costs and enable new organizational capabilities. The initiative will include a reduction in employees. Net sales for the company’s third quarter ended March 31, 2016 were $2.66 billion, a 3% increase compared with $2.58 billion in the prior-year quarter. Net earnings were $265.6 mil...
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