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Estee Lauder Appears to Be Missing The Reopening Boom

Published 05/03/2021, 01:27 PM
Updated 05/03/2021, 01:27 PM
© Reuters.

By Christiana Sciaudone

Investing.com -- Estee Lauder (NYSE:EL) tumbled more than 8% as the beauty products maker appears to be missing out on the reopening trade.

Sales for the third fiscal quarter of $3.87 billion missed the average forecast of $3.94 billion. That said, profit of $1.59 was far better than expected ($1.32), according to data compiled by Investing.com. Fiscal full year sales are expected to increase up to 12% versus the prior year, the company said in a statement.

Estee Lauder had hit a record prior to today's news, though shares are still up more than 65% for the past 12 months.

 

Latest comments

Many people is having tunnel vision, so is it the normalization of the economy leading to the fade of lipstick effect or the remote works are fading so no such surge in needs for make up for screen appearances !
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