UPDATE 1-Estee Lauder cuts profit forecast on Hong Kong, China troubles; shares fall

Estee Lauder Cos Inc cut its full-year profit forecast on Thursday, expecting a hit from the ongoing protests in Hong Kong and slowing growth in China and travel retail, sending its shares down 5%. The company now expects 2020 adjusted profit between $5.85 and $5.93 per share compared with its prior range of $5.90 to $5.98. Estee Lauder also cited risks from uncertainty around Brexit to its full-year forecast. …read more

Source:: Yahoo Finance


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