US personal care retailer Estée Lauder reported full-year net sales of $17.74 billion for fiscal year 2022 (FY22), a 9% increase from $16.22 billion a year earlier.
For the 12 months to June 30, the company’s organic net sales increased 8%, driven by double-digit growth in the Americas and Europe, Middle East and Africa (EMEA).
Its FY22 net profit was $2.39 billion, compared to $2.87 billion a year earlier.
Estée Lauder’s diluted earnings per share (EPS) fell from $7.79 to $6.55 year-over-year, while its diluted adjusted EPS rose 12% to $7.24 in constant currency.
During the fourth quarter (Q4), the retailer’s net sales fell 10% to $3.56 billion from $3.94 billion a year earlier.
Its net income for the fourth quarter was $52 million and its diluted EPS was $0.14.
Estée Lauder President and Chief Executive Officer Fabrizio Freda said, “We delivered strong results in FY22, exceeding our expectations in the fourth quarter and achieving record revenue and profitability over a adjusted basis for the year.
“Our multiple growth strategy drivers have proven invaluable amid the pandemic and macro complexity, providing us with the diversification needed to capture the growth of the moment.
“The Americas and EMEA flourished, fragrances soared and makeup fulfilled the promise of its emerging renaissance.
“Both physical and online outlets grew globally as we capitalized on reopening, expanded our reach to consumers in high-growth channels, and amplified our omnichannel capabilities.”
For fiscal year 2023 (FY23), Estée Lauder expects its full-year net sales to increase 3-5% from the prior year.
The company also expects its fully diluted net earnings per common share to be between $7.11 and $7.33.
In June of this year, Estée Lauder opened an advanced distribution center in Galgenen, Switzerland.
The 300,000 square foot facility is intended to strengthen the company’s position in providing prestige beauty products and premium services to on-the-go consumers.