Estee Lauder Posts Strong Sales And Earnings Gains In 3Q Of FY 2016

Estee Lauder Companies reported net sales rose 3 percent to $2.66 billion in the third quarter ending March 31, 2016, compared with $2.58 billion in the same quarter of the previous year. Net earnings declined to $265.6 million, compared with $272.1 million in the previous year. Diluted net earnings per common share stayed at $0.71, the company said. For the quarter, the company recorded charges of $15.2 million in connection with its efforts to transform its global technology infrastructure.