Cosmetics makers, including Estee Lauder, that rake in millions from sales at duty-free stores at airports, cruises and downtown locations have seen sales plummeting in its travel retail channel, as tourist spending has dried up due to restrictions on overseas travel and COVID-19 flare-ups in some tourist attractions. Estee Lauder projected first-quarter adjusted profit per share to be between 80 and 85 cents. Analysts on average were expecting a profit of $1.22 per share, according to IBES data from Refinitiv. …read more
Source:: Yahoo Finance
