21 Aug 2024 --- The Estée Lauder Companies (ELC) beat analysts’ expectations with its latest quarterly report but warned of lower future sales while Coty saw progress with its turnaround efforts amid declining quarterly revenue after dropping its Lacoste fragrance license. ELC saw fourth-quarter adjusted earnings rise US$0.64 per share from revenue of US$3.87 billion. The company blamed lower sales on “ongoing softness” in overall prestige beauty in mainland China and a decline in Asia travel retail from the decrease in the first half of fiscal 2024.
