Home Money Estee Lauder Shares Drop 25% as US Beauty Giant Sees Sales Drop Amid China Slowdown

Estee Lauder Shares Drop 25% as US Beauty Giant Sees Sales Drop Amid China Slowdown

0 comments
Falling sales: Estee Lauder counts actress Ana de Armas (pictured) among its ambassadors

Falling sales: Estee Lauder counts actress Ana de Armas (pictured) among its ambassadors

Estee Lauder has suffered another drop in sales due to the slowdown in China. The American beauty giant, whose brands include Clinique and MAC Cosmetics, is the latest to be hit by declining demand.

The firm, which counts actress Ana de Armas as an ambassador, achieved sales of £2.6bn in the three months to September, 4 per cent less than the same period last year.

Trade plunged by “double digits” in China, where a housing crisis has hit demand for products ranging from cosmetics to fashion, despite a recent stimulus package to revive the world’s second-largest economy.

The outgoing boss, Fabrizio Freda, stated yesterday that “we foresee strong falls in the short term for the industry” in the country.

Shares traded in New York plunged 25 percent before recovering slightly.

DIY INVESTMENT PLATFORMS

Easy investing and ready-to-use portfolios

AJ Bell

Easy investing and ready-to-use portfolios

AJ Bell

Easy investing and ready-to-use portfolios

Free Fund Trading and Investment Ideas

Hargreaves Lansdown

Free Fund Trading and Investment Ideas

Hargreaves Lansdown

Free Fund Trading and Investment Ideas

Fixed fee investing from £4.99 per month

interactive inverter

Fixed fee investing from £4.99 per month

interactive inverter

Fixed fee investing from £4.99 per month

Get £200 back in trading fees

sax

Get £200 back in trading fees

sax

Get £200 back in trading fees

Free trading and no account commission

Trade 212

Free trading and no account commission

Trade 212

Free trading and no account commission

Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.

Compare the best investment account for you

You may also like