×
312
Fashion Jobs
ADIDAS
Director - Finance fp&a Fsf
Permanent · CHENNAI
ADIDAS
Manager Digital Analytics - Product
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
RJCUBE STAFFING SOLUTIONS
Production Manager - Upholstery (Leather & Fabrics) For Greater Noida
Permanent · Greater Noida
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments-Woven/Knits For Garments Buying House, Noida
Permanent · Noida
NIKE
Information Security Risk Analyst (Grc) – Cis
Permanent · Bengaluru
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments (Jersey, Etc) For Garments Buying House, Noida
Permanent · Noida
ZEN TECHNO ENGINEERING PVT LTD.
Production Manager
Permanent · Pune
ADIDAS
Manager Buying & Planning Operations
Permanent · GURUGRAM
ADIDAS
Product Owner Data Foundations
Permanent · GURUGRAM
ADIDAS
Senior Product Owner
Permanent · GURUGRAM
ADIDAS
Product Owner
Permanent · GURUGRAM
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
PEOPLE ALLIANCE WORKFORCE
Quality Manager / Quality Head - Garments Manufacturing Company
Permanent · National Capital Region
NIKE
Senior Technical Product Manager, ed&a – Tpmo
Permanent · Bengaluru
RANDSTAD
Area Sales Manager
Permanent · Gurugram
By
Reuters
Published
Nov 4, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Estee Lauder profit falls 24 percent

By
Reuters
Published
Nov 4, 2014

U.S. cosmetics company Estee Lauder Cos Inc cut its full-year profit and sales growth forecast, hurt by weak demand in its key markets, sending its shares down 4 percent in premarket trading.

The company said it was cautious of slower growth in Hong Kong and China, strength of the U.S. dollar and weaker demand from some retailers in the United States.

Photo: Esteelauder.com


It was also monitoring the effects of certain global uncertainties on its business, including increased sanctions against Russia, Estee Lauder said.

The company cut its full-year adjusted earnings outlook to $3.03-$3.11 per share from $3.10-$3.20 per share.

It trimmed its forecast for net sales growth to 2-3 percent in constant currency, from 3-4 percent.

The maker of M.A.C., Bobbi Brown and Estee Lauder cosmetics said sales in the Americas fell 7.3 percent, while those in Europe, the Middle East and Africa (EMEA) rose 5.7 percent in the first quarter ended Sept. 30.

The two regions make up for nearly 80 percent of Estee Lauder's total sales.

The company's net sales fell 1.6 percent to $2.63 billion as some retailers advanced orders in the fourth quarter ahead of a planned technology upgrade.

In the last one year, Estee Lauder has grown sales faster than those of rivals such as Coty Inc and Elizabeth Arden Inc in key U.S. and European markets as it has a wider portfolio of cosmetic products, including skin care and makeup, and caters to higher-income customers.

Last week, Elizabeth Arden posted its third straight quarterly loss, largely due to its large exposure to perfumes, a category that has seen weak demand in North America.

Net income attributable to Estee Lauder fell 24 percent to $228.1 million, or 59 cents per share. Analysts an average had expected a profit of 55 cents per share, according to Thomson Reuters I/B/E/S.

The company's shares were at $72.52 before the bell after closing at $75.96 on Monday on the New York Stock Exchange.

© Thomson Reuters 2023 All rights reserved.