US EditionEstee Lauder plans to cut up to 3,000 more jobs, lifts annual profit forecast
- On Friday, Estée Lauder raised its annual profit forecast and announced plans to cut up to 3,000 more jobs globally, sending shares up about 11% in premarket trading.
- CEO Stéphane de La Faverie's 'Beauty Reimagined' strategy drives the restructuring, aiming to save as much as $1.2 billion in costs while reducing total headcount by 9,000 to 10,000 positions.
- ELC reported third-quarter adjusted earnings of 91 cents per share, beating the analyst consensus of 65 cents, while quarterly sales reached $3.71 billion.
- Amid restructuring, the company remains in talks to merge with Jean Paul Gaultier-owner Puig; the Spanish conglomerate stated earlier this week that "no final decision has been made."
- Regarding Fiscal 2026, ELC projected adjusted EPS guidance of $2.33–$2.43 and declared a quarterly dividend of 35 cents per share, payable June 15, 2026.
32 Articles
32 Articles
U.S. cosmetics company Estée Lauder has announced that it will cancel up to 3000 more jobs, which will already kill up to 10,000 jobs, representing almost 17.5 percent of the global workforce. The annual costs are expected to fall by up to 1.2 billion US dollars. According to the cosmetics company, the additional 3000 deletions mainly affect jobs in department stores. The focus of the business is on online sales. According to eMarketer's analyst…
Estee Lauder Companies Q3 Earnings Call Highlights
Estee Lauder Companies (NYSE:EL) raised its fiscal 2026 outlook and provided a preliminary view for fiscal 2027, citing improving sales momentum, significant margin expansion, and progress under its “Beauty Reimagined” strategy and Profit Recovery and Growth Plan (PRGP). Management also described on
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