雅诗兰黛Estee Lauder (EL) 2002年年度报告「NYSE」.pdf

1、THE ESTE L AUDER COMPANIES INC.2002 ANNUAL REPORT2Portfolio of Brands4Chairmans Message10Chief Executives Review34Board of Directors35Officers36Financial Highlights37Selected Financial Data38Consolidated Statements of Earnings39Managements Discussion and Analysis ofFinancial Condition and Results of

2、 Operations54Consolidated Balance Sheets55Consolidated Statements of Stockholders Equityand Comprehensive Income56Consolidated Statements of Cash Flows57Notes to Consolidated Financial Statements 78Independent Auditors Report80Stockholder InformationTHE ESTE LAUDER COMPANIES INC.The Este Lauder Comp

3、anies Inc.is one of theworlds leading manufacturers and marketers ofquality skin care,makeup,fragrance and hair careproducts.The Companys products are sold in over 130 countries and territories under wellrecognized brand names,including Este Lauder,Aramis,Clinique,Prescriptives,Origins,M.A.C,La Mer,

4、Bobbi Brown,Tommy Hilfiger,jane,DonnaKaran,Aveda,Stila,Jo Malone,Bumble and bumble,and kate spade beauty.THE AMERICASThe Company was foundedby Este Lauder in 1946 in New York City.Infiscal 2002,the Americas region represented61%of net sales and 49%of operating incomebefore restructuring charges.EURO

5、PE,THE MIDDLE EAST&AFRICAOurfirst international door opened in 1960 inLondon.In fiscal 2002,Europe,the Middle East&Africa represented 26%of net sales and 39%of operating income before restructuringcharges.This region includes results from ourtravel retail business.ASIA/PACIFIC We established a prese

6、nce in Hong Kong in 1961.In fiscal 2002,theAsia/Pacific region represented 13%of net sales and 12%of operating income beforerestructuring charges.CONTENTSPORTFOLIO OF BRANDS3TOMMY HILFIGERExclusive global licensing agreement signed in 1993 Soldin more than 120 countries and territories Select produc