Nov 2 (Reuters) - Estee Lauder raised its annual sales and profit forecasts on Monday, banking on resilient demand for its premium skincare and fragrance brands ahead of the holiday season as CEO Stephane de La Faverie's year-long turnaround efforts boost growth.
Consumers, particularly affluent and younger groups, have continued to indulge in skincare and fragrance purchases despite economic uncertainty, strengthening sales for the Clinique and Tom Ford owner's luxury skincare and fragrances.
As part of CEO's 'Beauty Reimagined' strategy, Estee Lauder has been focusing on faster innovation, expanding into new channels and markets, leveraging AI for consumer insights and marketing, increasing consumer-facing investment, streamlining operations and saving costs by trimming roles.
The company expects fiscal 2027 organic sales to grow between 4% and 5.5%, compared with its prior forecast of a 3% to 5% rise.
It also expects annual adjusted profit to be in the range of $3.20 to $3.45 per share, compared with its earlier forecast of $3.10 to $3.35.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Shinjini Ganguli)