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Estee Lauder projections

Executive Summary

Sales for fiscal fourth quarter (ended June 30) expected to increase approximately 7% in constant currency versus year-ago period, and sales for the year expected to be up 3%, Estee Lauder announces July 2. Company previously predicted sales for the year would increase 1%-2%. Earnings per share forecast at $.18 and $1.10 for the quarter and year, respectively, before restructuring charges. The estimate is below previous predictions due to increased spending on advertising and promotions, Estee Lauder says. Company anticipates that $77 mil. after-tax charge associated with Internet, supply chain, globalization and distribution will yield annual savings of $43 mil. (1"The Rose Sheet" May 6, 2002, p. 6)...
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