Shares of Estee Lauder (EL) fell nearly 3% on Friday after the cosmetics company delivered weaker-than-expected guidance for the coming year.
The midpoint of management's guidance for full year net sales growth is 6%, implying about $16.86 billion.
Management expects first-quarter sales to decline 11% at the midpoint, implying sales of $3.5 billion, well below the $3.94 billion estimate.
Analysts were looking for Estee Lauder to make a combined total of $3.58 per share in that time frame.
An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.
Persons:
Estee Lauder, reaccelerate, Jim Cramer's, Jim Cramer, Jim
Organizations:
Refinitiv, Management, CNBC, daimaru, Getty
Locations:
Asia, Pacific, China, Hong Kong, Hainan, Americas, America, Brazil, Mexico, United States, Nanjing, Shanghai