Company News

Estee Lauder’s Earnings Fall 64%

Author Image

By: TOM BRANNA

Editor

Estee Lauder Cos. Inc. said today that its quarterly net income fell 64% due to restructuring costs, but forecast better-than-expected earnings for the year ahead because of an accounting change. Net income in its fiscal fourth quarter, which ended June 30, fell to $20.4 million, or 6 cents per share, from $57.2 million, or 22 cents a year ago. The previously announced restructuring charge at Estee Lauder, whose upscale brands include Clinique, Mac and Aramis, was $40.3 million, or 17cents a sha...

Continue reading this story and get 24/7 access to Happi for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Happi Newsletters