Estee Lauder Cos Inc reported higher-than-expected quarterly profit and sales on Friday on strong demand for Too Faced and Becca products and customisable gifts, and the company raised its 2018 full-year EPS forecast.
Beauty products maker Coty Inc posted a quarterly profit on Thursday that beat estimates, selling more products geared toward millennials and making progress with newly-acquired brands in an expanded global portfolio.
Estee Lauder’s stock hit a record high after the cosmetics maker forecast holiday-quarter sales ahead of market expectations Wednesday, banking on demand for its acquired makeup brands that are popular with millennials.
All the biggest makeup brands are succumbing one by one to the temptation of collaborating with the hottest online beauty influencers to boost their star count, and August has been full of surprise announcements.
Estée Lauder Cos stock hit a record high after it forecast stronger full-year profit and sales posted higher-than-expected results as the cosmetics maker sold more products from brands such as M.A.C and Tom Ford.