How Estee Lauder Fared During COVID-19
The vast majority of retail brands that sell non-essential items experienced double-digit declines during the coronavirus pandemic, including industry leaders such as Nike and Hasbro. Cosmetics leader Estee Lauder (NYSE: EL) didn't escape its own massive decline in the three-month quarter ended June 30.
Yet despite the 32% fourth-quarter drop, Estee Lauder's otherwise strong showing for fiscal 2020 allowed the company to end the year with just a 4% sales decline. In fact, sales jumped 11% in the third quarter ended March 31, which included shutdowns and recoveries in Asia and two weeks of lockdowns in the U.S. During that time, Asia drove the increase with a 25% rise in sales, while the Americas decreased 2%.
Image source: Getty Images.
Source Fool.com
