Estée Lauder Cos Inc has forecast a bigger drop in full-year sales and profit, disappointing the Wall Street that was expecting better results on rebounding tra.
Shares of Estée Lauder Companies Inc. (EL) are falling more than 19 percent on Wednesday morning trade after the company reported 72 percent decline in third-quarter earnings per share, while revenue was down 12 percent from the previous year.
Tom Ford's latest collection answered the question that had been hanging over the brand since its sale in November: Would Ford stay or go? And it cleared the way for a new designer. Rumor has it that Peter Hawkings, Ford’s longtime menswear designer, is getting the job.