Why Estée Lauder Stock Dropped 21% in the First Half of 2023
Shares of Estée Lauder (NYSE: EL) fell 21% during the first half of the year, according to data provided by S&P Global Market Intelligence. Sales and earnings have been declining, and the company seriously lowered its full-year outlook.
Besides its own eponymous brand, Estée Lauder owns a huge collection of top-name cosmetics and skincare lines including Bobbi Brown, MAC, Clinique, and many others. These range from midprice to expensive.
It typically demonstrates steady growth, but after a strong rebound from the pandemic, it's now dealing with general retail woes that are hampering progress.
Source Fool.com
