Gloomy sales take gloss off profits at Estee Lauder
Estee Lauder is set to reveal a fall in annual sales this week after warning of a tough US market earlier this year.
The cosmetics giant, which owns Clinique and Jo Malone, is forecast to see sales fall by 8.2 per cent from £11.5billion to £10.5billion for the year to the end of June.
And it is set to record a loss of £416m, compared to a £288m profit in 2024, when results are published on Wednesday.
Hollywood style: Actress Ana de Armas in an Estee Lauder campaign
Earlier this year, it said it was cutting 7,000 jobs as part of a cost-saving drive as it braced for the impact of Donald Trump’s tariffs.
The industry has been rocked by Trump’s trade war, with many firms manufacturing their goods in countries subject to heavy US tariffs.
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