Estee Lauder (EL)

[winston]

vested

Estee Lauder sinks after dour 2023 view on slow Asia travel retail

by Ananya Mariam Rajesh

Slower-than-expected recovery in Asia travel retail and major market China for the latest round of cut to its annual forecasts.

U.S. retailers tightening inventories of its products but posted a 6% rise in organic net sales in Americas, signaling steady demand for its Jo Malone fragrances and Bobbi Brown foundations.

Estee expects full-year 2023 net sales to fall between 10% and 12%, compared to its prior forecast of a 5% and 7% decrease.

It also forecast adjusted profit per share to fall between 50% and 51%, compared with a decrease between 27% and 29% it expected earlier.

Source: Reuters

https://finance.yahoo.com/news/estee-la ... 28529.html

[winston]

not vested

Estée Lauder cuts forecast on slow travel recovery in China

by Jeannette Neumann

Estée Lauder Cos cut its forecast for the third time in six months as travel recovers more slowly than expected in China, hindering growth in a market that accounts for about one-third of the luxury company’s revenue.

Hainan generates around 14% of Estée Lauder’s sales.

Estée Lauder also cited weakness in travel retail sales in South Korea.

The downbeat outlook from Estée Lauder is a contrast from many of its competitors. Coty Inc, LVMH, L’Oréal SA and Kering SA, have all said that sales in China have begun to accelerate in the current quarter after a slow start to the year.

Source: Bloomberg

https://www.theedgemarkets.com/node/665552

[winston]

not vested

Estee Lauder stock rises as company teases anti-aging research

by Kevin P. Curran

Announced a plan to disclose “novel clinical and preclinical results that demonstrate scientific innovation and leadership across emerging areas of skin health and anti-aging” in July.

Set to present these innovations at the 25th World Congress of Dermatology in Singapore from July 3 to July 8.

Source: Seeking Alpha

https://seekingalpha.com/news/3979929-e ... _breakfast

[winston]

not vested

The Estee Lauder Companies Inc (EL) Reports 10% Decline in Net Sales for Q1 Fiscal 2024

The Estee Lauder Companies Inc (NYSE:EL) reported a 10% decrease in net sales for Q1 Fiscal 2024, with net sales amounting to $3.52 billion.

The company's diluted EPS declined to $.09, a significant drop from $1.35 in the prior year.

EL's net earnings for the quarter were $31 million, compared to $489 million in the prior year.

The company is lowering its full-year outlook due to incremental external headwinds.

Source: GuruFocus Research

https://finance.yahoo.com/news/estee-la ... 02078.html

[winston]

not vested

Estee Lauder: Jim Cramer admits that he made a major mistake

by Colette Bennett

That call was about legacy beauty company Estee Lauder (EL) which plunged to a six-year low Nov. 1 after reporting a surprise fiscal first quarter profit but a painfully dim second quarter outlook that was far below expectations.

I believed in the CEO, I believed the turn could happen in time to save $EL shareholders.

One of the reasons is China's prestige beauty market, which has fallen far below market expectations in the second half of 2023. One-third of Estee Lauder's business is from China.

Source: The Street

https://www.thestreet.com/retailers/jim ... %2Bmistake

[winston]

not vested

Estee Lauder eyes weak annual results on slow recovery in Asia travel retail

ESTEE Lauder on Wednesday (Nov 1) cut its annual profit forecast and said it expects a drop in annual sales,

Estee makes about 36 per cent of its annual revenue from the Asia-Pacific region.

Estee now expects full-year 2024 sales to decrease 2 per cent to an increase of 1 per cent, compared with the previous forecast of an increase between 5 per cent and 7 per cent.

Source: Reuters

https://www.businesstimes.com.sg/compan ... overy-asia

[behappyalways]

Estee Slaughter: Beauty Giant Implodes To 6 Year Low As Consumers Hit Brick Wall
https://www.zerohedge.com/markets/estee ... brick-wall

[winston]

not vested

Estee Lauder plans to cut 3 to 5 per cent of its global workforce as the cosmetics giant expands an effort to shore up margins squeezed by Chinese customers cutting back on higher-priced luxury products, sending its shares up as much as 19 per cent.

A boom following the lifting of pandemic curbs in China never materialised and recent results have indicated mixed luxury demand.

While companies like LVMH and Richemont have posted strong sales growth, others like Burberry have flagged a sluggish rebound.

Organic net sales in the Asia-Pacific region fell 7 per cent during the reported quarter, Estee said, while overall margins dipped 60 basis points.

Estee expects incremental operating profit between US$1.1 billion and US$1.4 billion from the efforts in fiscal years 2025 and 2026, up from US$800 million to US$1 billion it had estimated earlier.

The company said it may record between US$500 million and US$700 million in charges before taxes.

Source: Phillips