Estee Lauder Posts Smaller-Than-Expected Drop In Quarterly Sales

Reuters
05/01

May 1 (Reuters) - Cosmetics giant Estee Lauder EL.N posted a smaller-than-expected drop in third-quarter sales on Thursday, supported by resilient demand for its fragrances and haircare even as the broader makeup and beauty category underperformed.

The MAC lipstick maker's net sales fell 10% to $3.55 billion during the period. Analysts on an average estimated a fall of 10.72% to $3.52 billion, according to data compiled by LSEG.

Shares of Estee were up 5% in premarket trading.

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