×
249
Fashion Jobs
TALENSETU SERVICES PRIVATE LIMITED
Production Manager
Permanent · Jeddah
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager-Jamui / Jehanabad/Nawada
Permanent · Jahanabad
STERLING MANUFACTURING COMPANY
Area Sales Manager Electrical Goods, Home Appliance All Over India
Permanent · Ranchi
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Uttarakhand)
Permanent · Uttarkashi
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager - Jharkhand (Only Males)
Permanent · Ranchi
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager-Vaishali/ Khagaria/ Begusarai
Permanent · Begusarai
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (mp) All District
Permanent · Bhopal
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager - Jharkhand (Only Males)
Permanent · Deoghar
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager-Saran/ Madhubani/Saharsa
Permanent · Saharsa
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Rajasthan) All District
Permanent · Udaipur
GLOBAL TEXTILES ALLIANCE INDIA PVT LTD
Manager - Production Knitting
Permanent · Coimbatore
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager-Banka/ Kaimur/Patna
Permanent · Ottawa
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Bihar All District)
Permanent · Katihar
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Ranchi
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager - Kanpur / Mirzapur / Allahabad
Permanent · Prayagraj
MEDLEY PHARMACEUTICALS LTD
District Sales Manager(Asm) - Chennai
Permanent · Chennai
MUMBAI ROZGAAR PRIVATE LIMITED
Hiring For Sales Manager in Edutech Company- (Gurgaon/Gurugram)
Permanent · Gurugram
GANGAR OPTICIANS PVT. LTD.
Opening For Area Manager(From Opticals) For Central Mumbai
Permanent · Mumbai
DR. JRK'S RESEARCH AND PHARMACEUTICALS PVT LTD.
Area Sales Manager (Pharma Experience is Must) - Jaipur
Permanent · Jaipur
ELICO MECHOPTRONIX PVT LTD
Requirement For Manager/sr. Manager - Operations (Mechanical)
Permanent · Hyderabad
MEDLEY PHARMACEUTICALS LTD
District Sales Manager(Asm) - Davangere
Permanent · Davanagere
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager-Gaya/ Munger/Sheikhpura
Permanent · Gaya
By
Reuters
Published
Feb 7, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Estee Lauder says coronavirus outbreak to dent 2020 profit

By
Reuters
Published
Feb 7, 2020

Estee Lauder Cos Inc cut its profit forecast for fiscal 2020 on Thursday, citing the coronavirus epidemic in China, a key market for the maker of Clinique skincare products.


The Estee Lauder group recently announced that it completed the acquisition of Korean brand Dr. Jart+ - Dr. Jart+


Shares of the New York-based company, however, rose 4% as investors looked past the forecast and focused instead on better-than-expected quarterly results, which were driven by strong demand for its products.

Cosmetics makers, including Estee Lauder, have been thriving as affluent Chinese consumers splurge on premium makeup products and fragrances sold at beauty retailers and duty-free stores.

The Jo Malone London fragrance maker posted a 29.3% increase in sales in the Asia Pacific region for the second quarter, driven by upbeat sales on Singles Day, China’s version of the United States’ Cyber Monday.
 
Overall, sales rose 15.5% to $4.62 billion in the quarter ended Dec. 31, well above Wall Street expectations of $4.35 billion.

“Our growth came from all facets of the business ... and we made progress towards the stabilization of our North American business despite continued softness in the makeup category,” Chief Executive Officer Fabrizio Freda said.
Estee Lauder’s quarterly profit of $2.11 per share also came in above estimates of $1.90.

Barclays analyst Lauren Lieberman said sales growth in the Americas was among many positive surprises. Sales in the Americas rose 1% for the first time in over a year.

However, the coronavirus outbreak - which has killed over 500 people and forced businesses in China to temporarily shut stores - forced Estee Lauder to trim its fiscal 2020 per-share earnings forecast to between $5.60 and $5.70 from between $5.85 and $5.93.

Estee Lauder said it has seen a significant decline in air travel and consumer traffic in key shopping and tourist areas, adding markets favored by tourists are likely to experience the greatest impact from the outbreak.

China accounted for about 17% of the company’s sales in fiscal 2019, nearly doubling from a 9% contribution in fiscal 2017, according to the company’s regulatory filing.

The company also cut the low end of its sales growth forecast range to 6% from 7%, while keeping the top end at 8%. 
 

© Thomson Reuters 2021 All rights reserved.