The Estée Lauder Companies Inc. (NYSE:EL) Q3 2024 Earnings Call Transcript

Fabrizio Freda: Yes. On the U.S. — no, I think — actually U.S. in quarter three has been growing low single — sorry North America in quarter three is growing low single-digit. And if you exclude the M·A·C loyalty program actually it’s getting closer to mid-single-digits. So, is — there is growth in North America in quarter three. Said this, there is softness in consumer sentiment in this moment and the market growth is moderating in North America. So, obviously, there is pressure in — particularly in certain channels. There is pressure but the quarter three was in the right direction and it was in line with our goals. And for us the positive is that we had for example a positive impact on Clinique on the part of March.

And in this part of March, already we saw the impact of that — positive impact of that. If we — you can assume that we will have in the full quarter four, the impact of Clinique on Amazon, this for example, will be a positive element in the mix. We assure that.

Operator: And ladies and gentlemen, this will conclude today’s question-and-answer session. If you were unable to join for the entire call, a playback will be available at 1:00 P.M. Eastern Time today through May 15th. To hear a recording of the call please dial 877-344-7529 using passcode 5758677. That concludes today’s Estée Lauder conference call. I would like to thank you all for your participation and wish you all a good day. You may now disconnect your lines.