From luxury cosmetics firm Estée Lauder to apparel maker Canada Goose and iPhone seller Apple, companies are reporting weak results, with some saying customers aren’t reopening their wallets almost a year after Covid-related isolation ended. Estée Lauder shares sank 17% Wednesday, hitting the lowest levels in years, after the firm behind brands such as M.A.C and Clinique, cut its fiscal year outlook—in part because of a slower recovery of sales for high-end beauty products in mainland China. Shares remained depressed at the Friday close. The New York-based company now expects fiscal 2024 sales to range from a decline of 2% to an increase of 1% from the prior year, compare
Hence then, the article about big western brands are getting squeezed by chinese belt tightening was published today ( ) and is available oncanadian news today ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Big Western Brands Are Getting Squeezed by Chinese Belt-Tightening )