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6 Jul

Estée Lauder Layoffs at Smashbox, Too Faced, Glamglow –

by Beautifaire101
Beauty, Featured
Trouble in California? While the Estée Lauder Cos. has been grappling with much talked-about issues in China as its travel retail market did not bounce back after the coronavirus pandemic, it’s also been quietly coping with other struggles out West. Its California brands — Smashbox, Too Faced and Glamglow — have all initiated layoffs previously 12 months as those businesses face challenges, while international operations have also been scaled back for some. As a part of that, there shall be 22 employees laid off at Too Faced’s office in Irvine, in accordance with filings by the California Labor Department first reported by Retail Dive. The makeup brand founded by Jerrod Blandino and Jeremy Johnson within the ’90s was acquired by Lauder in 2016...
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10 May

Estée Lauder Cos. Backs Group CEO, Leadership Team in

by Beautifaire101
Beauty, Featured
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
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. 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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