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What: Shares of Estee Lauder
So what: Despite overall retail weakness in the second quarter, luxury purveyors seemed to buck the overall trend. The cosmetics king beat estimates on the top and bottom lines, posting a 9% sales increase and 25% improvement in net income. Management cited strong growth in the U.S. and China, as well as travel retail, and said sales grew twice as fast as the overall industry's, which they attributed to "innovative products, marketing prowess, and personalized services."
Now what: Along with Michael Kors
Want to keep an eye an Estee Lauder? Just add Estee Lauder to your Watchlist.
Fool contributor Jeremy Bowman holds no positions in the companies in this article. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.