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Asharq Al-Awsat

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Asharq Al-Awsat

MYSTERIOUS: Estee lauder cuts annual forecasts as china curbs drag demand | Mind Blowing Facts

Estee Estee Lauder China United States New York

An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)

Estee Lauder Cos Inc cut its full-year sales and profit forecasts on Wednesday, signaling a hit to sales from persistent COVID-19-related lockdowns and store closures in major market China.

The New York-based company's shares were down about 5% in premarket trade.

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