Company News, Financial News

Q1 Sales Fall at Estée Lauder

Still, company execs say results were 'stronger than expected.'

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By: TOM BRANNA

Editor

At a time when everyone knows to expect the unexpected, executives at The Estée Lauder Companies say they are pleased with results for the fiscal first quarter, even though sales declined 9% to $3.56 billion. Net sales decline were driven by some temporary retail store closures and lower foot traffic in open stores attributable to COVID-19, partially offset by strong growth online. Travel retail net sales were relatively flat year-over-year and net sales from the company’s acquisition of Have&#0...

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