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Estee Lauder Expects Department Stores Slip

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By: TOM BRANNA

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Estee Lauder Cos. Inc. expects department store sales to account for a smaller portion of its revenues as it focuses more on free-standing stores and Internet commerce. The New York-based company, whose brands include Clinique and others in addition to Estee Lauder, expects department store sales to decline to 60 to 70 percent of revenues in the next three to five years, down from 80 percent of revenues currently, Chief Financial Officer Richard Kunes said in a presentation to analysts on Wednes...

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