Estee Lauder profits jump 25 per cent
Estée Lauder reported a higher than expected quarterly profit yesterday, helped by double-digit percentage gains in sales of its makeup and skincare. The maker of Bobbi Brown and MAC cosmetics reported net profit rose 24.6 per cent to $51.2m.
Dick’s Sporting Goods writes off JJB Sports
Dick’s Sporting Goods said yesterday its support for JJB Sports had weighed down earnings growth, causing the US firm to write off the entire value of its investment. Dick’s said the high street chain had “materially deteriorated” since its lifeline in April.
Towers Watson forecast below expectations
Towers Watson posted a higher-than-expected quarterly net income of $65.3m yesterday, but the employee-benefits consultancy firm forecast future earnings below market expectations. Overall quarterly revenue was down three per cent at $826.2m.