雅诗兰黛Estee Lauder (EL) 2010年年度报告「NYSE」.pdf

1、 The Este Lauder Companies Inc.2010annual reportCONTENTS 3 ExEcutivE chairmans LEttEr 7 PrEsidEnt and chiEf ExEcutivE OfficErs LEttEr 10 thE YEar in rEviEw 59 OutLOOk 62 GLObaL succEssEs 64 POrtfOLiO Of brands 72 bOard Of dirEctOrs 74 ExEcutivE OfficErs 75 financiaL hiGhLiGhts 79 financiaL sEctiOn15

2、1 manaGEmEnts rEPOrt On intErnaL cOntrOL OvEr financiaL rEPOrtinG152 rEPOrt Of indEPEndEnt rEGistErEd PubLic accOuntinG firm On intErnaL cOntrOL OvEr financiaL rEPOrtinG153 rEPOrt Of indEPEndEnt rEGistErEd PubLic accOuntinG firm154 stOckhOLdEr infOrmatiOn2“Guided by the values upon which our Company

3、 was founded and our long-term corporate strategy,we met the challenges of the still-turbulent economy by generating some of our best results in years.”wiLLiam P.LaudErdear fellow stockholders:fiscal 2010 was a tremendous year for the Este Lauder companies.Guided by the values upon which our company

4、 was founded and our long-term corporate strategy,we met the challenges of the still-turbulent economy by generating some of our best results in years.through the invaluable contributions of our outstanding employees and the leadership of our new President and chief Executive Officer,fabrizio freda,

5、i am proud to report that we gained share in many important countries and channels and achieved strong sales and profits.importantly,we achieved these goals while exercising prudent financial decision-making and managing costs.we began fiscal 2010 with the launch of the Este Lauder brands upgraded a

6、dvanced night repair,which turned out to be the largest and most successful global launch in our history.simultaneously,we implemented an ambitious,yet cautious,plan to reflect the prevailing economic conditions.through careful planning and dedicated efforts,we eliminated more than$350 million of co