Estée Lauder Shares Plunge 20% As Cosmetics Giant Yanks Forecast On Weak Sales
Estee lauder companies inc (nyse: El) shares are plunging wednesday morning after its mixed third quarter performance, hit by pressures affecting its asia travel. The family feud at estée lauder is turning into a financial crisis. Shares of the beauty giant plunged 20% thursday after it slashed its dividend. Estee lauder is a leader in the global prestige beauty market, participating across skin care (51% of fiscal 2024 sales), makeup (29%), fragrance (16%), and hair care (4%) categories, with top.