Estée Lauder reported fiscal 2027 first-quarter net sales up 7% to $3.7 billion, and raised its full-year outlook. Costs grew more slowly than sales, so operating income more than doubled to $408 million, with gross margin rising to 75.7% from 73.4%. Fragrance drove the growth with a 20% rise, while makeup and hair care were nearly flat. Procurement savings, manufacturing efficiencies and pricing offset inflation, and a lower tax rate than last year's 56.9% also helped lift diluted EPS to $0.64 from $0.13. Management says growth is front-loaded, and the raised full-year range of 4% to 5.5% sits below this quarter's pace.
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