The Estee Lauder Companies, Inc. says continued challenges in Asian travel retail and sluggish US sales will result in a 10%-12% drop in net and organic sales in the first quarter of fiscal 2024, but it expects full-year growth on the strength of innovations and additions to its billion-dollar brands.
Lauder’s Travel Retail Woes Make For Turbulent FY2024 Takeoff; Smoother Ride Expected In H2
The Estee Lauder Companies, Inc. expects a 10%-12% drop in net and organic sales in the fiscal first quarter of 2024, but predicts sales for the full year will increase 5% to 7%, fueled by innovation.
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