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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