Excluding the impact of foreign currency translation, net sales increased 13%. For the quarter, the positive impact of foreign currency translation on diluted net earnings per common share was $.11. Adjusting for the restructuring and other charges and adjustments, diluted net earnings per common share for the three months ended March 31, 2018 increased 30% to $1.17, and in constant currency rose 17%.
Fabrizio Freda, president and chief executive officer, said, “Our company delivered another excellent quarter in what we expect to be an outstanding fiscal year. Many areas of our business that contributed to our strong first-half results continued to thrive in our third quarter, as we generated 13% sales growth and 17% adjusted earnings per share growth, each in constant currency. Among our multiple engines of growth, travel retail, online and Asia again were standouts, and we experienced strong momentum in other high growth channels and markets. Our performance this quarter reflected robust global demand across our portfolio, with virtually all our brands posting sales growth. Each of our three biggest brands grew globally, with exceptional growth in Estée Lauder. These results reflect our strong array of hero products, as well as product and service innovations that resonated well with today’s diverse global consumers.”
In Skin Care, net sales growth benefited from increases in Asia. Double-digit gains were seen in most regions from La Mer, Estée Lauder, Origins and GLAMGLOW, and Clinique achieved solid double-digit growth globally.
In Makeup, sales growth was primarily driven by strong double-digit increases from Estée Lauder and Tom Ford and solid gains from M•A•C and Clinique.
Net sales increased in Fragrance, primarily due to strong double-digit gains from luxury brands
In Hair Care, Aveda grew, driven by solid performances in the online and travel retail channels; Bumble and bumble was driven by the success of the brand in Ulta Beauty.
PHOTO: Estée Lauder sales were fueled by the Double Wear foundation.