Estée Lauder exceeded Q1 sales and profit estimates driven by strong fragrance demand and China recovery. The company posted sales of $3.48 billion versus analyst estimates of $3.38 billion, with adjusted profit of 32 cents per share beating estimates of 18 cents. Organic net sales rose 3% YoY after a 5% decline last year. Fragrance sales grew 13%, led by Le Labo and Tom Ford, while China and Asia Pacific sales increased 9%. CEO Stéphane de La Faverie’s turnaround strategy includes luxury launches, supply chain streamlining, and increased marketing. L’Oréal, LVMH, and Hermès have also signaled China recovery.