雅诗兰黛集团上调全年业绩展望 2026财年第二季度表现强劲

Core Insights - The company reported strong performance in Q2 of FY2026, with a 6% year-over-year increase in net sales, reaching $4.2 billion, and a 4% organic net sales growth [2] - The adjusted gross margin increased by 40 basis points from 76.1% to 76.5%, primarily due to the benefits from the Profit Recovery and Growth Plan (PRGP) [2] - The operating profit margin improved significantly to 9.5% from -14.5% year-over-year, with an adjusted operating profit margin expanding by 290 basis points from 11.5% to 14.4% [2] Market Performance - In the China mainland market, organic net sales grew by 13% year-over-year, achieving double-digit growth for the second consecutive quarter, outperforming the overall high-end beauty market [3] - The company has raised its full-year outlook for FY2026, expecting organic net sales growth of 1% to 3% and an adjusted operating profit margin between 9.8% and 10.2% [3] Strategic Initiatives - The CEO highlighted that the "Reimagining Beauty" strategy has revitalized the business and driven significant operational, leadership, and cultural transformation [4] - The company plans to mitigate the impact of tariffs, estimated to affect FY2026 earnings by approximately $100 million, through trade projects, flexible supply chain management, and optimizing regional production layouts [3]