The Estee Lauder Companies Inc. reported net sales of $14.29 billion for its fiscal year ended June 30, 2020, a decrease of 4% from the prior-year period. The net sales decline was driven by retail store closures as a result of the global spread of COVID-19 that was partially offset by acceleration online. 'Fiscal 2020 was a year without parallel, as we delivered record sales and exceptionally strong adjusted EPS growth in our first half and navigated with agility through an unprecedented pandemic in our second half,' said Fabrizio Freda, president and chief executive officer.
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