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#Covid19: Estee Lauder reports better than expected Q3 sales, despite declining revenue

#Covid19: Estee Lauder reports better than expected Q3 sales, despite declining revenue

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Estee Lauder on Friday warned of weak quarterly sales due to COVID-19-led lockdowns in several markets, after it beat Wall Street’s lowered estimates for third-quarter profit and sales on growth in China and higher online demand.

 

The M.A.C owner said it expects a majority of its retail stores across the world to remain closed for most of the current quarter and warned that global prestige beauty products would be “adversely impacted”.

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Featured photo : © Estée Lauder

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