Estee Lauder Gains After China Expansion Helps Lift Forecast
- Company also benefited from Too Faced, Becca acquisitions
- Latest results extend rally for cosmetics maker this year
A sales assistant arranges lipsticks at an Estee Lauder Companies Inc. store in the Raffles City shopping mall in Shanghai, China, on Wednesday, May 31, 2017.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Estee Lauder Cos. climbed the most in six years after its rapid expansion in China and the acquisition of millennial-friendly brands helped brighten its outlook.
The cosmetics giant boosted its sales and profit forecasts for the year following better-than-expected growth in the fiscal first quarter. Earnings amounted to $1.21 a share in that period, excluding some items, handily beating the 97 cents estimated by analysts.