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December 20, 2001
By: TOM BRANNA
Editor
Estee Lauder Cos. Inc warned yesterday that its fiscal second-quarter sales and earnings would be sharply lower than expected, because U.S. retailers are tightening inventories in the weakened economy.The company anticipates that diluted earnings per share for the quarter will be about 35 to 37 cents per share. Analysts’ estimates had ranged from 49 to 51 cents, with a mean of 50 cents, according to earnings tracking firm Thomson Financial/First Call.“The substantial inventory de-sto...
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