Estee Lauder, Canada Goose slash annual targets as China recovery drags
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Estee Lauder (EL) falls 12% after lowering full-year outlook on Asia headwinds
November 1, 2023 6:59 AM EDTEstee Lauder (NYSE: EL) shares tumbled more than 12% in pre-open Wednesday after the company lowered its full-year outlook.
In the first quarter, Estee Lauder reported adjusted earnings per share of 11 cents, marking a substantial decrease compared to the previous year's $1.37. Analysts were looking for a loss per share of 21 cents.
Adjusted net sales for the first quarter amounted to $3.52 billion, which... More
