Lauder Lowers FY23 Outlook On ‘Temporary Pause’ In China, Tightening Of US Inventory
Executive Summary
Estee Lauder Companies says fiscal 2023 second-quarter sales will decline high double digits due to ongoing COVID-19 restrictions in China, tightening inventory by some US retailers, and a strong US dollar. The firm expects improvement in the back half of the year, but has adjusted full-year guidance.
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