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June 28, 2001
By: TOM BRANNA
Editor
Estee Lauder announced today that it will close 86 in-store shops, revamp its supply chain and change how it sells its Jane cosmetics brand, resulting in fourth-quarter pretax charges of $60 million. The company said the charge, 16 cents a share after tax, will also include a previously announced revamp of its global brand structure.The company said sales are expected to grow 9% for the year before the effect of the strong dollar compared with other currencies. Sales are seen growing in the mid-...
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