The beauty giant is still being hit hard by troubles in its China business.
Cos.has cut its full year forecast as troubles in its China business continue, combined with the potential risks of further business disruptions in Israel and other parts of the Middle East.
Adjusted diluted net earnings per common share are expected to decrease between 33 percent and 25 percent. The company, whose brands include Clinique, MAC, Tom Ford and Jo Malone, reported net sales of $3.52 billion for its first quarter ended Sept. 30, a decline of 10 percent from $3.93 billion in the prior year. Organic net sales fell 11 per cent, driven by pressures in the company’s Asia travel retail business.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Estee Lauder cuts annual profit outlook on weaker recovery in Asia travel retailEstee Lauder cuts annual profit outlook on weaker recovery in Asia travel retail
Read more »
Estee Lauder falls 12% after lowering full-year outlook on Asia headwindsEstee Lauder falls 12% after lowering full-year outlook on Asia headwinds
Read more »
Estee Lauder stock tumbles toward a 6-year low after downbeat outlook offsets a surprise first-quarter profitTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Read more »
Meet the viral COS quilted bag that fashion influencers loveSophie Leen is the Bookings Editor for Cosmopolitan UK and Women's Health UK.
Read more »
House Republicans aim to pay for Israel aid with cuts to IRS fundsDemocrats want Israel and Ukraine funding to be linked together. House Republicans are proposing a standalone bill with roughly $14 billion for Israel offset with cuts to the Internal Revenue Service.
Read more »
House Republicans aim to pay for Israel aid with cuts to IRS fundsDemocrats want Israel and Ukraine funding to be linked together. House Republicans are proposing a standalone bill with roughly $14 billion for Israel offset with cuts to the Internal Revenue Service.
Read more »