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19 Aug

The Estée Lauder Cos. Addresses Cybersecurity Attack – WWD

by Beautifaire101
Beauty, Featured
The Estée Lauder Cos. Addresses Cybersecurity Attack – WWD
The Estée Lauder Cos. has given an update on the cybersecurity attack. Last month, it said it had identified a cybersecurity incident that involved an unauthorized third party getting access to a few of its systems. While it has not been confirmed, the ALPHV/BlackCat and Clop groups claimed credit for the cyber attack, listing Estée Lauder on their sites at nighttime web alongside an airline, comms regulator, harddisk storage provider and others.  Because of this of the breach, Lauder proactively took down a few of its systems and commenced an investigation with a third-party cybersecurity expert. The corporate said it was also coordinating with law enforcement. In a call Friday with analysts to debate its fourth-quarter earnings, chief financial officer Tracey T. Travis...
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10 May

Estée Lauder Cos. Backs Group CEO, Leadership Team in

by Beautifaire101
Beauty, Featured
The Estée Lauder Cos. Addresses Cybersecurity Attack – WWD
NEW YORK — The Estée Lauder Cos. board of directors and Lauder family has strongly backed group president and chief executive officer Fabrizio Freda and the corporate’s leadership team in an internal memo sent to employees Tuesday, which was obtained by WWD. In a move to quell any concern produced by a recent report that the Estée Lauder Cos. could soon face pressure from a billionaire activist investor, William Lauder, the Estée Lauder Cos. executive chairman, wrote the memo on behalf of the board and his family. As previously reported, on Sunday The Recent York Post published an article saying that Nelson Peltz is considering making Lauder his next activist play after the Walt Disney Co., including potentially pushing a sale of...
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3 May

The Estée Lauder Cos. Shares Tumble on Downgraded Outlook

by Beautifaire101
Beauty, Featured
The Estée Lauder Cos. Addresses Cybersecurity Attack – WWD
Greater than three years after the worldwide COVID-19 pandemic began, the Estée Lauder Cos. continues to be reeling from its impact. The wonder giant and latest owner of Tom Ford has once more slashed its full-year forecasts for each the highest and bottom lines attributable to a slower-than-expected recovery in travel retail in Asia, its executive team revealed Wednesday, causing the corporate’s share price to tumble around 18 percent to $202.70. The lowered forecast comes despite an easing in lockdowns in mainland China, with sales within the region returning to growth within the third quarter. Lauder’s overall net sales for the total yr are actually forecast to diminish between 10 percent and 12 percent, greater than the previously expected 5 percent to 7...
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3 May

The Estée Lauder Cos. Lowers Full Yr Forecast –

by Beautifaire101
Beauty, Featured
The Estée Lauder Cos. Addresses Cybersecurity Attack – WWD
The Estée Lauder Cos. has once more lowered its outlook as a result of a slower than expected recovery in Asia. Net sales for the complete yr are forecast to diminish between 10 percent and 12 percent, in comparison with the prior yr. It previously forecast a 5 percent to 7 percent drop. Adjusted diluted earnings per common share are expected to fall between 50 percent and 51 percent, compared with the previous forecast for a 27 percent to 29 percent decline. “Because the shape of recovery from the pandemic for Asia travel retail comes into higher focus, it's proving to be each much more volatile than we expected and more gradual relative to what we experienced in other regions. We're, due...
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