02 Nov 2023 --- The Estée Lauder Companies (ELC) has reported net sales of US$3.52 billion for its first quarter ended September, a decline of 10% from US$3.93 billion in the prior year. Organic net sales declined 11%, primarily by expected pressures in the company’s Asia travel retail business, as well as incremental headwinds from a slower-than-expected recovery of overall prestige beauty in mainland China.
