×
79 145
Fashion Jobs
MACY'S
Asset Protection Detective, Pleasanton Stoneridge - Full Time
Permanent · Pleasanton
MACY'S
Asset Protection Detective, Riverpark - Full Time
Permanent · Fresno
MACY'S
Asset Protection Security Guard, Mall at Greece Ridge Center - Full Time
Permanent · Rochester
MACY'S
Asset Protection Detective, Lakeside - Full Time
Permanent · Sterling Heights
MACY'S
Asset Protection Detective, Walt Whitman - Full Time
Permanent · Huntington Station
MACY'S
Retail Fulfillment Associate, Menlo Park - Full Time
Permanent · Edison
MACY'S
Asset Protection Detective, Gurnee Mills - Full Time
Permanent · Gurnee
MACY'S
Asset Protection Detective, City Creek Center - Full Time
Permanent · Salt Lake City
MACY'S
Retail Fulfillment Associate, Maplewood - Full Time
Permanent · Maplewood
MACY'S
Asset Protection Detective, Coral Square - Full Time
Permanent · Coral Springs
MACY'S
Asset Protection Captain, South Bay - Full Time
Permanent · Boston
MACY'S
Asset Protection Detective, Stockton Sherwood - Full Time
Permanent · Stockton
MACY'S
Retail Fulfillment Associate, Springfield - Full Time
Permanent · Springfield
JCPENNEY
Asset Protection Manager
Permanent · Boise
JCPENNEY
General Manager
Permanent · Farmington
JCPENNEY
Salon Manager
Permanent · Downey
JCPENNEY
Transportation sr Specialist
Permanent · Haslet
JCPENNEY
Buyer Fragrance
Permanent · Plano
JCPENNEY
Salon Manager Btc - Eastridge Shopping Center
Permanent · San Jose
JCPENNEY
Asset Protection Manager Asheville NC
Permanent · Asheville
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Walden Galleria
Permanent · Buffalo
ABERCROMBIE KIDS STORES
Abercrombie Kids - Brand Representative, South Shore
Permanent · Braintree
By
Reuters API
Published
Feb 2, 2023
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Estée Lauder fears bigger drop in profit on uncertain China recovery

By
Reuters API
Published
Feb 2, 2023

Estee Lauder Cos Inc forecast a bigger drop in full-year profit than it had initially estimated, citing uncertainty around recovery in major market China.


Tom Ford Beauty


Analysts, meanwhile, expect China's recent move to relax its toughest Covid-related curbs and lift travel restrictions to improve sales for U.S. luxury and beauty companies, such such as Estee, that took a beating from the country's strict zero-Covid policy.

​Shares of the New York-based company were down about 1% in early tra travel retail in the second half of the year.

Estee said it expects a return to sales growth in Mainland China and Asia travel retail in the second half of the year.

"Outside of China, the travel retail looks strong" said Evercore ISI analyst Robert Ottenstein, adding that segment recovery in the country, however, remained an important question.

Lower sales at Asia travel retailers and fewer inventory orders from the United States on worries of a slowdown in demand, hurt the MAC lipstick maker's sales in the second quarter.

"A concern on the quarter was apparent weakness in the U.S. and it looks like they may be losing market share on the skin care side," Ottenstein added, highlighting a 5% decline in sales in the Americas.

Estee expects annual adjusted profit per share to fall between 27% and 29%, compared with its prior forecast of a decrease between 19% and 21%, and net sales to fall about 5% to 7%, compared with a 6% and 8% drop it forecast earlier.

© Thomson Reuters 2023 All rights reserved.