{"id":139296,"date":"2024-05-03T07:00:14","date_gmt":"2024-05-03T05:00:14","guid":{"rendered":"https:\/\/luxus-plus.com\/estee-lauder-forecasts-a-decline-in-fiscal-year-2023-2024\/"},"modified":"2024-05-02T18:52:37","modified_gmt":"2024-05-02T16:52:37","slug":"estee-lauder-forecasts-a-decline-in-fiscal-year-2023-2024","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/estee-lauder-forecasts-a-decline-in-fiscal-year-2023-2024\/","title":{"rendered":"Est\u00e9e Lauder forecasts a decline in fiscal year 2023-2024 "},"content":{"rendered":"

The American group did better than expected in the third quarter of 2023-2024, which ended in March. But despite a recovery in Asia, it expects a downturn in both sales and results for the year.<\/h4>\n

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Est\u00e9e Lauder<\/strong> turns a smile into a grimace for its investors.<\/p>\n

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On May 1, 2024, the American cosmetics group unveiled its third-quarter results (ending March 2024), which exceeded analysts’ forecasts.<\/strong><\/p>\n

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At the same time, however, it announced that sales would be down for the full year, despite its (partial) rebound on the Asian market<\/strong>. This is the ninth time in a row that the company has revised its forecasts sharply downwards.<\/p>\n

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In the second quarter of 2023-24, Est\u00e9e Lauder had explained the 10% drop in sales by “a slower-than-expected recovery in Asia, and especially in China”.<\/p>\n

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Falling annual sales and profits<\/h2>\n

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This time, due to “macro-economic headwinds” and “persistent softness” in luxury cosmetics in mainland China<\/strong>, the group anticipates a decline of between 2% and 3% in annual sales<\/strong> and, for the same period, a fall of between 33% and 36% in earnings per share<\/strong> excluding exceptional items and at constant exchange rates…<\/p>\n
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