Despite a weaker-than-expected sales decline in the second quarter of its 2024-25 financial year, the US beauty specialist will step up its restructuring plan.
Despite a smaller-than-expected drop in sales in the second quarter of its 2024-25 financial year, ending in December, Estée Lauder is tightening the screws even further.
On Tuesday February 4, the American beauty and fragrance specialist announced thatit would be cutting between 5,800 and 7,000 jobs worldwide.
And yet, while in the first quarter the group had reported results below expectations (with a 5% drop in sales at constant exchange rates to $3.36 billion and a net loss of $156 million), the opposite was true in the second quarter.
Sales decline less steep than expected
Estée Lauder’s sales fell by just 6% to $4 billion during the period, according to unaudited data, while analysts were expecting a 7.3% drop to $3.98 billion, according to data compiled by LSEG.
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Featured photo: © Estée Lauder
