21 Aug 2023 --- Estée Lauder Companies annual net sales have dropped 10% from US$17.74 billion in the prior year, with the company disclosing overall sales of US$15.91 billion for its fiscal year ended June 30, 2023. Organic net sales fell 6%, driven by Asia travel retail in Hainan and Korea, partially offset by growth in nearly every market in Asia-Pacific, Europe and the EMEA. In the US, organic net sales growth was “unfavorably impacted” by the slower-than-anticipated pace of the company’s improvement at retail and the tightening of inventory by certain retailers in the first half of fiscal 2023.
