Weak China Sales Hit Estee Lauder's Q4, CEO To Retire

Estee Lauder Companies Inc EL shares are trading slightly lower after the company reported its fourthquarter results. The company reported sales growth of 7% Y/Y to $3.87 billion, beating the analyst consensus estimate of $3.83 billion. Organic net sales grew 8% Y/Y, fueled by broad-based gains across all product categories, with Skin Care leading the way, driven by the company's global travel retail segment. Organic net sales in the Americas declined 5%, with sales in Europe, Middle East & Africa climbed 3 ...