Estee Lauder cuts annual profit outlook on weaker recovery in Asia travel retail
© Reuters. FILE PHOTO: An Estee Lauder cosmetics counter is seen in Los Angeles, California, U.S., August 19, 2019. REUTERS/Lucy Nicholson/File Photo) cut its annual profit on Wednesday as the MAC lipstick maker struggles with a slower-than-anticipated recovery in its Asia travel retail business.
The company now expects full-year 2024 adjusted profit per share between $2.17 and $2.42, compared with its prior forecast of $3.50 to $3.75.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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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.
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