Estee Lauder boosts forecast on demand for skincare, make up

Cosmetics maker Estee Lauder Cos Inc raised its full-year revenue and profit forecasts on Thursday, betting on strong demand for its Clinique skin care and Tom Ford fragrance products in Western markets such as North America.

The owner of Clinique has increased its digital presence and rolled out features such as virtual try-on to sidestep disruptions caused by a resurgence in COVID-19 cases.

Sales of its MAC lipsticks and Jo Malone London perfumes have also risen in Europe and North America as life returns to normal after the easing of pandemic restrictions.

The company expects reported annual net sales to rise between 13% and 16%, compared with its previous forecast of a 12% to 15% increase.

It estimates adjusted annual profit of between $7.43 and $7.58 per share, compared with its prior outlook of between $7.23 and $7.38 per share.