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Restrictions in mainland China and the rising number of Covid cases led to stronger headwinds as the quarter progressed.
February 2, 2023
By: Lianna Albrizio
Associate Editor
The Estée Lauder Companies Inc. reported net sales of $4.62 billion for its second quarter ended December 31, 2022. The figure represents a decline of 17% from $5.54 billion in the prior-year period, including negative impacts from foreign currency. Organic net sales fell 11%. In the fiscal 2023 second quarter, company officials said the evolution of the COVID-19 environment, including restrictions in mainland China and the rising number of COVID cases, led to stronger headwinds as th...
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