Estée Lauder Forecast Lags Estimates on Currency, Tourism

“Estée Lauder Cos. provided a full-year profit forecast that trailed analysts’ estimates, citing economic turbulence and a stronger dollar that are hurting its sales overseas. The beauty company is going through a multiyear restructuring that entails cutting as many as 1,200 jobs. It’s also cautious about a decline in traffic at midtier department stores in the U.S. as fewer tourists visit the country.” Read more at Bloomberg.