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Estée Lauder Earnings Fall Short of Expectations

Cosmetics company Estée Lauder (EL) reported worse-than-expected earnings in the fourth quarter despite sales growth. Foreign currency translation and restructuring and other charges had a negative impact on the results.

For the three months to June 30, the New York-based maker of skin care, makeup, hair care and fragrance products booked diluted earnings per share of 25 cents, far short of the analyst consensus of 40 cents and down from 40 cents a year earlier. Net profit came to $93.5 million, down from $153.0...


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