Estee Lauder Companies, Among Industry’s ‘Long COVID’ Cases, Lowers FY 2024 Outlook
The firm is resetting Asia travel retail inventory and implementing a new and improved profit recovery plan.
Executive Summary
The Estee Lauder Companies says Asia travel retail will hammer fiscal 2024 full-year net sales, now expected to be down 2% to up 1%. A new profit recovery plan is designed to drive $800m-$1bn of incremental operating profit over the next two fiscal years, the New York-based firm said on 1 November.