×
66 705
Fashion Jobs
MACY'S
Ofc., Parade Studio Liaison & Asset Protection - Part Time (3842)
Permanent · Secaucus
MACY'S
Asset Protection Detective, Mall in Columbia - Full Time
Permanent · Columbia
MACY'S
Wave Planner, Bailey Road - Weekend, Full Time (2501)
Permanent · North Jackson
MACY'S
Asset Protection Detective, Herald Square - Full Time
Permanent · New York
MACY'S
Manager, Operations Mon-Fri 6:00 am-2:30 pm
Permanent · Tomball
MACY'S
Manager, Inventory Control/Quality Assurance Mon-Fri 6:00 am-2:30 pm
Permanent · Tomball
MACY'S
Asset Protection Detective, Alderwood - Full Time
Permanent · Lynnwood
MACY'S
Asset Protection Detective, Monmouth - Full Time
Permanent · Eatontown
MACY'S
Asset Protection Security Guard, Wolfchase - Part Time
Permanent · Bartlett
MACY'S
Asset Protection Detective, Fairfield Solano - Full Time
Permanent · Fairfield
MACY'S
Asset Protection Detective, st Clair Square - Part Time
Permanent · Fairview Heights
MACY'S
Asset Protection Detective, Park Meadows - Full Time
Permanent · Lone Tree
MACY'S
Asset Protection Security Guard, Green Acres - Full Time
Permanent · Valley Stream
MACY'S
Asset Protection Security Guard, Herald Square - Full Time
Permanent · New York
MACY'S
Director, Design
Permanent · New York
MACY'S
Manager, Merchandise Execution
Permanent · Albany
MACY'S
Beauty Account Coordinator - Dior Beaute
Permanent · Hicksville
MACY'S
Manager, Technology Engineer - Supply Chain
Permanent · Johns Creek
MACY'S
Asset Protection Detective, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, Warwick Mall - Full Time
Permanent · Warwick
MACY'S
Asset Protection Security Guard, Castleton - Flex
Permanent · Indianapolis
MACY'S
Asset Protection Detective, Topanga - Flex
Permanent · Los Angeles
By
Reuters API
Published
Feb 2, 2023
Share
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.