The Estée Lauder Companies Inc. (NYSE:EL) Q1 2024 Earnings Call Transcript

Our innovation pipeline is robust for fiscal year 2024, but it gets even better and bigger and stronger in fiscal year 2025 with the expansion into the white space opportunity that we have identified. We are on track to align retail and net sales via inventory reduction with our retailers in China private retail, as discussed during the call. We are focused on accelerating a more balanced growth in the future by market, by channel. And importantly, via the profit recovery plan, we are preparing to rebuild gross margin, leverage our new capabilities to align our expenses to our current sales level and further strengthen our consumer-facing activities. And we have the strategic focus and the talent to do this work, and together, intend to return to our historical cadence of delivering sustainable sales and profit growth.

And thank you for your time and for your attention today.

Operator: Ladies and gentlemen, with that, we’ll conclude today’s conference call and presentation. We thank you for joining. You may now disconnect your lines.