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Estée Lauder reported a 6 per cent overall sales boost for
the first fiscal quarter of 2014, despite a weakened performance in several key
beauty markets including the US, southern Europe and South Korea. The New
York-based company – maker of a namesake cosmetics line as well as brands
including MAC, Aveda and Clinique – said global sales were $2.68bn for the
September quarter, up from $2.55bn in the same quarter the previous year.
Quarterly profits were flat at $301.6m, or 76 cents a share,
just beating analysts’ expectations. The company also raised its quarterly
dividend by 11 per cent from 18 cents to 20 cents a share. Read more.
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