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Estée Lauder Stock Jumps as Q3 Profits Top Estimates

WWD·Evan Clark·about 1 month ago
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The Estée Lauder Cos.’ third-quarter earnings came without a Puig deal — the two sides said they were considering joining forces in March — but there were still plenty of signs that the beauty giant is on the move and changing things up.  Third-quarter organic sales grew by 2 percent, with a 10 percent gain in fragrance; adjusted earnings topped estimates, and the company offered an early forecast on fiscal 2027, projecting continued growth.  Lauder is also expanding on its profit recovery and growth plan and now expects to log a total of 9,000 to 10,000 layoffs, up from the 5,800 to 7,000 previously forecast.  Related Articles Seventy percent of the additional cuts come from demonstration roles at unproductive department stores and freestanding channels, indicating just how much more digital beauty has become and how much Lauder is looking to avenues like Amazon and TikTok for growth.   Investors liked what they saw and traded shares of the company up 14.7 percent to $88 in…

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