Estee Lauder Companies: Coronavirus Will Drag On Growth Engines In FY 2020 Back Half

The Estee Lauder Companies has lowered its full-year guidance to account for store closures, canceled travel plans and other effects of the coronavirus outbreak. The firm achieved record-setting 16% organic growth in the second quarter, led by China, travel retail and skin care, and is confident that it can get quickly back to speed once markets recover from the global health scare.