Estée Lauder Companies (ELC) posted net sales of $3.37bn, an increase of 18% compared with the prior-year quarter ($2.86bn) for Q3 2018, which ended 31 March, with travel retail highlighted as a standout ‘engine of growth’.

For the first nine months of the 2018 fiscal year the company reported net sales of $10.39bn; a 16% increase compared with $8.93bn in the prior-year period.

Fabrizio Freda, President and Chief Executive Officer, said: “Our company delivered another excellent quarter in what we expect to be an outstanding fiscal year.

“Many areas of our business that contributed to our strong first-half results continued to thrive in our third quarter, as we generated 13% sales growth and 17% adjusted earnings per share growth, each in constant currency.

“Our company delivered another excellent quarter.” Fabrizio Freda.

“Among our multiple engines of growth, travel retail, online and Asia again were standouts, and we experienced strong momentum in other high growth channels and markets. Our performance this quarter reflected robust global demand across our portfolio, with virtually all our brands posting sales growth.

TRAVEL RETAIL HERO BRANDS

With regards to travel retail more specifically, the Estée Lauder skincare brand, MAC cosmetics, Jo Malone fragrances and Aveda haircare products were responsible for driving growth.

In terms of regions, travel retail generated strong sales growth in most markets across Europe, the Middle East and Africa. In constant currency, double-digit sales gains came in travel retail and Italy, as well as several emerging markets, including India, Russia, Central Europe and Turkey.

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As a business division ELC said that travel retail continued its momentum, generating double-digit sales growth in virtually every brand, led by Estée Lauder, La Mer, MAC, Clinique and Tom Ford.

“Brands benefitted from growth in global airline passenger traffic, solid new launch initiatives, and targeted expanded consumer reach,” it added.

“Operating income increased, primarily due to strong double-digit operating results in travel retail.”