The Estée Lauder Companies (ELC) said net sales grew 4% year-on-year to $3.48 billion in the first quarter of fiscal 2026, ended 30 September 2025. The growth was driven by a long-awaited rebound in Mainland China and the Asia-Pacific region.

Operating margin improved from -3.6% to 4.9%. The company expects the actions under its profit recovery and growth plan to be substantially completed by fiscal 2027, with goals to reach a double-digit operating margin over the next few years. Under this plan, ELC plans to restructure, cutting between 5,800 and 7,000 roles, which will result in savings of between $1.2 billion to $1.6 billion.

“We had a strong start to fiscal 2026 as we execute on our Beauty Reimagined strategy — returning to organic sales growth, gaining prestige beauty share in stra

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