{"id":2004761,"date":"2023-08-18T11:40:02","date_gmt":"2023-08-18T15:40:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/estee-lauder-projects-weak-annual-profit-on-slow-recovery-in-asia-travel-retail\/"},"modified":"2023-08-18T11:43:37","modified_gmt":"2023-08-18T15:43:37","slug":"estee-lauder-projects-weak-annual-profit-on-slow-recovery-in-asia-travel-retail","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/estee-lauder-projects-weak-annual-profit-on-slow-recovery-in-asia-travel-retail\/","title":{"rendered":"Estee Lauder expects low annual profit due to sluggish recovery in Asian travel retail."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Festee-lauder-projects-weak-annual-profit-on-slow-recovery-in-asia-travel-retail%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2004761&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Estee \u200bLauder Forecasts\u2064 Slower Rebound in Sales and Profit<\/h2>\n<p>By\u2062 Granth Vanaik and\u2064 Ananya Mariam Rajesh<\/p>\n<p>(Reuters)\u200d -\u2063 Estee Lauder has announced its annual sales and \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tech-stocks-lost-1-8-trillion-in-value-in-april\/\" title=\"Tech Stocks Lost .8 Trillion in Value in April\">profit forecast<\/a>, which\u2063 fell below expectations. This indicates a slower-than-anticipated recovery in its\u200b travel retail business, particularly in Asia, and\u2063 a \u2064decline in \u2063demand in the United States. As a result, the company&#8217;s shares have dropped by 3%.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Major global companies\u200c have taken a cautious stance on their China recovery, as the world\u2019s second-largest economy\u2062 struggles to revive\u200d demand and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/estee-lauder-projects-weak-annual-profit-on-slow-recovery-in-asia-travel-retail\/\" title=\"Estee Lauder expects low annual profit due to sluggish recovery in Asian travel retail.\">battles rising youth unemployment rates<\/a> \u200band a high cost of living. <\/p>\n<p>Analysts note that the drop in consumer demand in China and a slow recovery in Asia travel retail \u2013 sales made at airports or travel destinations like Korea and \u2064China\u2019s Hainan \u2013 could\u2062 impact luxury companies like Estee, which makes about 30% of its \u200bannual revenue from the Asia Pacific region.<\/p>\n<p>\u201cPressure \u200bin Hainan intensified over the course\u200d of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/two-measures-of-corporate-health-flash-red\/\" title=\"Two measures of corporate health flash red\">fourth \u2062quarter<\/a>,\u201d said CEO Fabrizio Freda, \u200badding that retail sales trends deteriorated and turned \u201csteeply negative\u201d \u2064in\u200b May and June.  <\/p>\n<p>However, Freda said Estee was on track to recovering growth in Asia travel retail and North \u2062America, going\u200d forward. <\/p>\n<p>The company\u2019s Americas \u200cregion reported flat net sales, while Asia Pacific \u200creported a 29% increase in\u200c the quarter.<\/p>\n<p>European rival LVMH \u2063 last month also flagged cooling demand in the U.S., while French cosmetics maker L\u2019Oreal said the Chinese market was not picking\u200d up at the\u2064 speed everyone had hoped for.<\/p>\n<p>Estee\u2019s dour forecast led analysts to raise questions about\u200c the continuing uncertainty in Hainan and Mainland China. <\/p>\n<p>\u201cDe-stocking and inventory levels in \u2064Asian Travel Retail\u2026 likely to remain the biggest headwind to growth over the next few quarters,\u201d said Bernstein analyst Callum Elliott.  <\/p>\n<p>Estee expects full-year sales to rise between 5% and 7%, compared with an estimated 8.8% increase, \u200daccording\u200d to Refinitiv data.\u200b <\/p>\n<p>It sees \u200cannual adjusted profit to be between \u2062$3.50 and $3.75 per share, \u2064compared with an expectation of $4.83.<\/p>\n<p>  \u2062 (Reporting by Granth Vanaik and Ananya Mariam Rajesh in Bengaluru; Editing by Pooja Desai)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/estee-lauder-projects-weak\/attachment\/file-photo-the-estee-lauder-section-of-the-nordstrom-flagship\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/estee-lauder-projects-weak\/attachment\/file-photo-an-estee-lauder-cosmetics-counter-is-seen-in\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Prosecutors Make \u2062Major Break in Microsoft Executive \u2064Murder Case<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>President Robert L.\u200b Peters Faces Scrutiny as Georgia State Senator\u2063 Defends Trump<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Biden Challenges Critics on Anniversary of &#8216;Inflation-Reduction \u200dAct&#8217;<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Former \u2062White\u200c House \u200cChief of Staff\u2062 Moves \u200dCase to Federal Court<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Semiconductor \u2063Equipment Maker Applied Materials Forecasts\u2062 Fourth-Quarter Profit<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Microsoft to Sell New Version of Databricks Software \u200bfor AI Apps<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Judge Dismisses Lawsuit Accusing YouTube of Restricting Videos<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Increasing Use of\u200b Artificial Intelligence in Cybersecurity, Says Google-Owned Firm<\/h3>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Estee Lauder&#8217;s annual sales and profit forecast fell short of expectations, signaling a slower recovery in its travel retail business in Asia and declining demand in the US. As a result, shares dropped by 3%. Many major global companies are adopting a cautious approach to their China recovery.<\/p>\n","protected":false},"author":66,"featured_media":2004763,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2004761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2004761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2004761"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2004761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2004763"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2004761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2004761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2004761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}