Estee Lauder Raises Annual Forecasts
Estee Lauder raised its annual forecasts and reported better than expected first quarter results on Monday. Strong demand for luxury fragrances and skincare helped drive sales higher as the company cuts promotions.
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ESTEE LAUDER COMPANIES-CL A raised its annual forecasts on Monday afternoon after reporting a 7% rise in first-quarter sales to $3.72 billion. The cosmetic maker is cutting promotions and ramping up brand investment as its turnaround gains momentum.
