On May 3, The Estée Lauder Companies, Inc. released its financial results for the third quarter of fiscal year 2023. In the three months ended March 31, the company achieved net sales of $3.76 billion, down 12% year-on-year, with organic net sales down 8%.

In its financial report, the company said it would lower its full-year earnings expectations, with net sales expected to fall by 10-12% year-on-year for the full year. The company’s shares fell by more than 20% following the results, the largest decline ever recorded by the company.

https://www.chaileedo.com/est%C3%A9e-lauder-s-fragrance-hits-nearly-two-year-low-in-growth