I'm new to this message board and would appreciate some advice. I've always wanted to own EL. I agree with those who believe that cosmetics (the right cosmetic companies, anyway) are pretty recession-proof. My question is: Would this be a good time for me to jump in? Thanks.
Daria Myers has been appointed to the position of Senior Vice President and General Manager, Origins Natural Resources, effective December 1, 2003
Lynne Greene, currently President, Origins Natural Resources Worldwide has been named President, Specialty Groups Worldwide for the Estee Lauder Companies, leading Prescriptives, La Mer and Jo Malone.
I forgot, we do not have women in any top spots.
After further review...due to an over-sight on my part- it did what I thought it would do.
I over estimated on the upside. Proving to my vain self that I need glasses.
I'm taking the money and running.
It still may go higher? That 37.70 fig. s/b plain old 37. IMO
Chester, I've heard the same thing over there: everyone is miserable whose last name isn't Lauder. Lots of frustration, cut budgets, etc. Certainly one of the best of the group, but unlike Avon can't deliver any return on shareholder equity. Just sits there like a pig, granted a sweet smelling pig, year after year after year....
As a long time employee, I have to concur that the enviroment over the last two years has been pretty miserable. I have seen a full turn around from an employee based management system, to a current return to the "ol boy" network. Yeah, I would have to say that if you are an ED and above you are probably pretty happy. Middle management on down can be classified as disgruntled to say the least. Even after a record year when is comes time for raises they go right back to post 9/11 philosophy and give cheesy raises. The employees were asked to work with the company post 9/11, which most did more than willingly, this year when raises come around, immediatrelly after the year end announcemnt of a record year, they don't even ackknowledge this, just hand out the same pitiful rases of the last couple of years. Then they hand out stock options to managemnt based on grade, not merit, but grade, you could be a clerk or secratary doing nothing but inputting and dealing with a PC and recieve options, yet the bulk of the management who actually deals with the empoyees does not. Boogles the mind. Unions are gaining ground in a normally no union envioremnt, it has come closer than ever before to being an issue. There are even member of management who turn a deaf ear to union talk, something that never would have happened 2 or 3 years ago. Personally, i think that there will be a turn around, but i just hope that is before irreprable damage is done. A good solid company is impossible without a good solid workforce.
Come again? "Fragrance sales on a reported basis increased 4% to $1.06 billion compared to the prior year." Basically, travel retail business, which is heavily fragrance came back some and we launched Clinique Happy Heart, T girl by Tommy Hilfiger, Estee Lauder pleasures intense and Lauder Intuition for Men. The fragrance business in general is off and we slumped on pleasures, Intuition and some Tommy stuff, but that is fine. As I keep saying new products drive the business and it proved it here once again. Wait until numbers for Beyond Paradise start coming in. HUGE. Bigger than pleasures. Showcases the new, refocused direction of the entire EL brand.
No Group VP's, fine, whatever. I guess the reason I mention the other roles more is that is where the direction of the company comes from. Cosmetics is heavily driven by new products and SKU management. New products and the support materials that come with them flow up. Most often, a Leonard or a William would only be involved in big decisions on a few select issues whereas the real. Now, a Fred or a Rick Kunes would hear little about products, they are concerned with the company as a whole. In that regard, I think few toiletry companies can bring a high end product to market like we can. Getting a product to the store is relatively easy. Getting product initiated in France into a package designed in Japan, into a bottle sourced in Germany, filled in the UK with a solution made of ingredients from all over the globe, placed in a carton made in the US and shipped to over 80 markets, with multiple sales models and distribution points is not easy, but that happens everyday here.
Amazing: you keep talking about Senior VPs and still don't mention Group Presidents. Again, I guess cause they're none that are women. Regardless, as an employee of Lauder perhaps you can give the rest of us Luddites some insight. Has the environment always been happy as you say? Or was Cartman right on when he said that people were miserable? Have they ever been miserable? Enlighten us...instead of trying to prove to us that a stock that has been cut in half -- 5 years later -- is worth a shot.