Reopening of Stores Drives Sales Recovery for ELC
Estée Lauder Companies (ELC) have reported net sales of 16.22 billion US-dollars for the fiscal year ended June 30, 2021.
According to the group, this corresponds to an increase of 13 per cent. Net sales grew in every region and in most product categories. This is said to reflect the gradual reopening of brick-and-mortar retail stores in certain markets compared to the prior year when several retail locations closed during the second half due to COVID-19, the company adds. Sales in the group's makeup division reportedly climbed for the first time in more than a year, surging 76 per cent in the fourth quarter. The company expects to continue its net sales recovery in the 2022 fiscal year. Further information …