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Estee Lauder Eliminating Up To 2,000 Heads As It Rationalizes Brick-And-Mortar, Reinvests Online

 
• By Ryan Nelson

Lauder’s online business grew at a near triple-digit organic rate in the fiscal 2020 fourth quarter, and the firm intends to go on investing resources accordingly. The firm’s fiscal 2020 net sales slipped 4% to roughly $14.3bn, reported, due to COVID-19 effects.

Business report

The Estee Lauder Companies, Inc. will close 10% to 15% of its freestanding stores around the world, as well as underperforming department-store counters, in measures expected to eliminate up to 2,000 positions from its payroll, the company said on 19 August in conjunction with its release of fiscal 2020 results.

The headcount reduction will affect primarily point-of-sale employees and related support staff in areas that have been most impacted by COVID-19

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• By Eileen Francis

Shiseido’s Drunk Elephant premium skin care range – acquired in 2019 – and its NARS brand dragged sales in the Americas region down almost 20% in the first quarter, the firm reported in a 12 May earnings presentation.

IFF Offsets Tariffs’ Impact, But Discretionary Product Ingredients Face Risk

 
• By Eileen Francis

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Coty Lowers FY25 Forecast On Tariff Uncertainty, Inventory Reductions, But Expects Sunnier Days In FY26

 
• By Eileen Francis

Coty lowers its revenue and profit outlook for FY25, though it believes FY26 will be a better year thanks to a return of ‘blockbuster’ product launches, market expansion and mitigation strategies for current economic uncertainties.

Estee Lauder Lowers FY 2025 Outlook, Expects Positive Results FY 2026 On ‘Beauty Reimagined’

 
• By Eileen Francis

The Estee Lauder Companies reported a 10% drop in reported sales during its fiscal third quarter presentation on a 28% decline in travel retail organic sales. The firm, which lowered its FY 2025 sales expectations, says it expects positive growth in FY 2026.

More from Business

Coty’s Next Phase Of ‘All-In To Win’ Strategy Should Generate $130M Savings

 
• By Eileen Francis

Coty’s ‘All-in to Win’ program enters the next phase, which sets aggressive savings over the next two years in part by simplifying and scaling its operating model, in addition to boosting its innovation impact.

P&G: Innovation, Pricing ‘Short-Term Levers’ For Tariffs Adding Up To $1.5Bn In Costs Annually

 
• By Eileen Francis

The Procter & Gamble Company is working to mitigate the impact of tariffs, which will add up to $1.5bn in costs annually. The firm has lowered its fiscal 2025 outlook.

NAD Refers Men’s Hair Color Brand To FTC For Non-Compliance With Fast-Track SWIFT Decision

 
• By Eileen Francis

Plano, Texas-based Simpler Hair Color Inc. may face FTC enforcement action after it failed to comply with the National Advertising Division’s recommendations it discontinue the claim, “Rated #1 Men’s Hair Color,” associated with a consumer review website.