Ashley Wallace's questions to Estee Lauder Companies Inc (EL) leadership • Q4 2025
Question
Ashley Wallace of Bank of America Merrill Lynch asked for the Q4 organic revenue growth figure excluding Travel Retail and inquired when this part of the business, which is more directly influenced by the company, is expected to return to positive growth.
Answer
EVP and CFO Akhil Shrivastava confirmed that the business excluding Travel Retail saw a low single-digit decline in Q4, similar to Q3, and the goal for fiscal 2026 is to achieve positive low single-digit growth. President and CEO Stéphane de La Faverie elaborated that the ambition is for this segment to turn positive by the end of fiscal 2026, driven by mid-single-digit growth in China and double-digit growth in emerging markets, while acknowledging that Europe remains a challenge due to softening consumer trends.