格隆汇2月9日｜投行道明考恩(TD COWEN)将雅诗兰黛目标价从130美元下调至115美元。 ...

近日，优淇沁百货宣布与兰蔻、雅诗兰黛、资生堂三大国际美妆品牌达成战略合作，推出 3 款联名限定 礼盒，同步在全国门店及线上商城发售。令人惊喜的是，首批限量 5000 套礼盒上线 3 小时内即宣告售 罄，社交媒体相关话题阅读量突破 2000 万，掀起美妆消费热潮。 此次联名合作聚焦 "东方美学 + 科技护肤"，礼盒内含品牌经典单品与优淇沁独家定制周边，其中兰蔻 联名款搭配定制刺绣化妆包，雅诗兰黛礼盒附赠智能美妆镜，资生堂限定款包含专属护肤咨询服务。为 提升消费体验，优淇沁在核心门店设置联名礼盒体验专区，配备专业美妆师提供一对一妆容打造服务， 消费者可现场试用产品并领取定制小样。 除了产品联名，三方还宣布将联合开展 "美妆公益课堂"，走进社区与高校，为消费者提供肤质检测、 妆容教学等公益服务，传递科学护肤理念。业内专家认为，优淇沁通过跨界联名打破了传统百货的品类 边界，既提升了品牌调性，又增强了年轻消费者粘性，为零售行业的品牌合作提供了新范式。 "联名合作不仅是产品组合，更是资源与场景的深度融合。" 优淇沁百货美妆品类负责人表示，通过与 头部品牌共建供应链，品牌实现了限定产品的独家首发权，同时借助品牌方的研发资源 ...

当地时间2月5日，雅诗兰黛集团发布了2026财年第二季度（2025年10月1日至12月31日）财报，集 团净销售额同比增长6%；净利润扭亏为盈，从2025财年同期的亏损5.9亿美元，转为盈利1.62亿美元。 该集团重点提及，中国大陆市场的销售额以连续两个季度双位数有机增长的强劲表现，成为驱动集团业 绩复苏的核心引擎。 资料显示，雅诗兰黛创立于1946年，旗下拥有雅诗兰黛、海蓝之谜、倩碧、M.A.C等多个知名品 牌，目前业务按品类划分为皮肤护理、彩妆、香水、头皮护理及其他5大板块。 编辑：侯隽 在雅诗兰黛集团的全球市场中，中国大陆市场的表现尤为突出，被该集团视为"重塑美妆新境"战略 成功的案例。根据财报，2026财年第二季度，中国大陆市场有机净销售额强势增长13%，增速远超全球 平均水平，并且连续两个季度保持双位数增长。 雅诗兰黛集团总裁兼首席执行官司泰峰表示："我们在第二季度业绩表现卓越，进一步巩固了2026 财年上半年的强劲势头。在这关键的一年，'重塑美妆新境'战略为业务注入新的活力，推动了公司历史 上最大的运营、领导力及文化转型。" 财报数据显示，雅诗兰黛集团2026财年第二季度净销售额达42亿美元，盈利 ...

Argus将雅诗兰黛的目标价从140美元下调至120美元，维持"买入"评级。(格隆汇) ...

We recently published 12 Stocks on Jim Cramer’s Radar.  The Estée Lauder Companies Inc. (NYSE:EL) is one of the stocks on Jim Cramer's radar. The Estée Lauder Companies Inc. (NYSE:EL) is one of the largest cosmetics companies in the world. Its shares are up by 52% over the past year but are down by 6.8% year-to-date. Wells Fargo started the year on a strong note for the firm. It raised The Estée Lauder Companies Inc. (NYSE:EL)’s share price target to $111 from $95 and kept an Equal Weight rating on the sh ...

根据雅诗兰黛方面披露，其在中国高端美妆市场的表现优于行业整体水平。本季度及2025自然年，其在 高端美妆市场的所有品类、线上及线下渠道均实现市场份额增长。其中，海蓝之谜(La Mer)、汤姆福特 (TOM FORD)及勒莱柏(Le Labo)表现尤为突出。 要客研究院院长周婷分析认为，这一增长本质是雅诗兰黛"战略适配+市场红利"的双重成果。 雅诗兰黛实施了一年的"重塑美妆新境"转型战略效果初显。近日，雅诗兰黛发布了2026财年第二季度财 报。报告期内，雅诗兰黛实现净销售额42亿美元，同比增长6%；有机净销售额增长4%。实现净利润 1.62亿美元，较去年同期扭亏为盈。同时，雅诗兰黛披露2026财年上半年(2025年7月1日—12月31日)业 绩数据，净销售额同比增长5%至77.1亿美元；净利润从上一财年同期亏损7.46亿美元转为盈利2.09亿美 元。 根据雅诗兰黛相关人员提供的资料，雅诗兰黛方面将此番业绩增长归功于"重塑美妆新境"转型计划的实 施。"这主要得益于公司利润恢复与增长计划(PRGP)带来的净效益，大幅抵消增量关税、业务结构变化 及通胀因素带来的影响。"雅诗兰黛方面表示。 同时，公司营业利润率为9.5 ...

雅诗兰黛实施了一年的"重塑美妆新境"转型战略效果初显。近日，雅诗兰黛发布了2026财年第二季度财报。报告期内，雅诗兰黛实现净销售额42亿美 元，同比增长6%；有机净销售额增长4%。实现净利润1.62亿美元，较去年同期扭亏为盈。同时，雅诗兰黛披露2026财年上半年（2025年7月1日—12月31 日）业绩数据，净销售额同比增长5%至77.1亿美元；净利润从上一财年同期亏损7.46亿美元转为盈利2.09亿美元。 在这份表现不错的财报中，中国大陆市场成为一大亮点。根据财报数据，第二季度，中国大陆市场有机净销售额增长13%，连续第二个季度实现双位数 增长。雅诗兰黛方面表示，中国大陆市场的增长得益于产品创新、"双11"购物节及节日营销的出色执行，以及面向消费者投资的增加。 根据雅诗兰黛方面披露，其在中国高端美妆市场的表现优于行业整体水平。本季度及2025自然年，其在高端美妆市场的所有品类、线上及线下渠道均实 现市场份额增长。其中，海蓝之谜、汤姆福特及勒莱柏表现尤为突出。 在周婷看来，雅诗兰黛近两年"高端为主、年轻化为辅"的核心策略，既契合中国高端美妆市场的结构性增长红利，如高净值人群扩容、悦己消费升级， 又通过集团战略 ...

Core Insights - Estee Lauder Companies, Inc. reported stronger-than-expected quarterly results driven by broad-based demand across its prestige beauty portfolio, despite shares trading lower ahead of the open [1] Quarterly Metrics - The company reported second-quarter adjusted earnings per share of 89 cents, exceeding the analyst consensus estimate of 83 cents [2] - Quarterly sales reached $4.229 billion, reflecting a 6% year-over-year increase, surpassing the Street view of $4.219 billion [2] - Organic net sales grew by 4% year-over-year [2] Regional Performance - Mainland China experienced a second consecutive quarter of double-digit retail sales growth, with share gains led by La Mer, TOM FORD, and Le Labo [3] - Japan and the U.S. also saw share gains, with Makeup and Fragrance leading in Japan, while Skin Care/Hair Care and DTC Fragrance increased mid-single digits in the U.S. [3] - Western Europe posted Fragrance share gains across France, Spain, and the U.K., with the company gaining share across categories and channels for full-year 2025 [3] Product Category Performance - Skin Care sales rose 7% to $2.054 billion, Makeup increased 1% to $1.164 billion, and Fragrance advanced 9% to $812 million [4] - Quarterly adjusted gross profit increased by 6% year-over-year to $3.235 billion, with adjusted gross margin expanding to 76.5% from 76.1% [4] - Adjusted Operating Income jumped 32% to $608 million, while adjusted operating margin expanded to 14.4% from 11.5% [4] - The company exited the quarter with cash and equivalents worth $3.082 billion [4] Restructuring Program - The company is executing a significant operational, leadership, and cultural transformation under its global restructuring plan, Beauty Reimagined [6] - The restructuring is expected to incur pre-tax charges of $1.2 billion to $1.6 billion and generate annual gross benefits of $0.8 billion to $1.0 billion [7]

Core Insights - Estee Lauder Companies, Inc. reported stronger-than-expected quarterly results, driven by broad-based demand across its prestige beauty portfolio [1] - The company’s second-quarter adjusted earnings per share were 89 cents, exceeding the analyst consensus estimate of 83 cents [1] - Quarterly sales reached $4.229 billion, reflecting a 6% year-over-year increase and surpassing the expected $4.219 billion [1] Financial Performance - The firm raised its fiscal 2026 adjusted earnings forecast to a range of $2.03-$2.23 per share from a previous range of $1.90-$2.10, compared to analysts' estimates of $2.15 [3] - Fiscal 2026 sales forecast was increased to $14.756 billion–$15.042 billion from $14.613 billion–$15.042 billion, against analysts' estimates of $14.934 billion [3] - Following the earnings announcement, Estee Lauder shares gained 5.1%, trading at $101.59 [3] Analyst Ratings - Wells Fargo analyst maintained Estee Lauder with an Equal-Weight rating and lowered the price target from $111 to $105 [4] - Telsey Advisory Group analyst maintained a Market Perform rating with a price target of $105 [4] - Citigroup analyst upgraded Estee Lauder from Neutral to Buy, maintaining a price target of $120 [4]

Core Viewpoint - Estée Lauder Companies reported strong second-quarter results for fiscal year 2026, exceeding market expectations and continuing positive growth from the first quarter [3][4]. Financial Performance - The company raised its full-year guidance for fiscal year 2026, expecting organic net sales growth of 1%-3% and adjusted operating margin of 9.8%-10.2% [4]. - Net sales reached $4.229 billion (approximately 260.08 billion RMB), a 6% year-over-year increase [4]. - Adjusted operating margin expanded significantly by 290 basis points to 14.4%, with adjusted EPS rising 43% to $0.89 [4][5]. Market Performance - The skincare and fragrance segments were the main growth drivers, with skincare sales increasing by 7% to $2.054 billion (approximately 126.32 billion RMB) and fragrance sales growing by 9% to $812 million (approximately 49.94 billion RMB) [6][8]. - The China market showed double-digit growth, significantly contributing to the overall performance, driven by strong brand performance during key shopping events [6][13]. Strategic Initiatives - The company is undergoing a comprehensive restructuring under the "Beauty Reimagined" strategy, focusing on operational efficiency and digital transformation [26][30]. - The "Profit Recovery and Growth Plan" (PRGP) aims to optimize global operations and reduce costs, with over 6,000 positions cut to enhance profitability [27][30]. Future Outlook - Despite the strong performance, the company anticipates slower growth in the second half of the fiscal year due to increased consumer-facing investments and external tariff pressures [16][31]. - The focus will shift from recovery to building a sustainable growth model, emphasizing product innovation and market expansion [30][31].