Strong demand for makeup drives Estee Lauder s glossy sales forecast marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Estee Lauder sales hit by lackluster demand for makeup 03 May 2021 - 19:50 By Aditi Sebastian and Praveen Paramasivam Sales at Estee Lauder s skin care segment jumped 31%, while sales at its makeup segment fell 11%. Image: 123rf
Estee Lauder Cos Inc missed analysts estimates for quarterly sales on Monday, as weak demand for its luxury foundations and lipsticks offset growth at the cosmetics maker s skincare brands, with people continuing to work from home.
The company s shares, which touched a record high last week, fell nearly 7%.
Sales of cosmetics and makeup products have taken a hit during the Covid-19 pandemic as shoppers stay at home, pressuring Estee Lauder s M.A.C and Bobbi Brown brands.