Estee Lauder shares declined Thursday after CEO Fabrizio Freda offered an underwhelming outlook on China at a retail conference earlier in the day.
Freda, who has been CEO for 14 years, said China remains an important growth segment for Estee Lauder, and the trend of more consumption there is not changing.
While management is confident that performance will improve going forward, we still see Estee Lauder as a "show me" story.
In the second half of fiscal 2024, Estee Lauder said it's positioned for stronger profitability versus the first half.
Pedestrians walk past the American multinational skincare, and beauty products brand, Estée Lauder (Estee Lauder) logo seen in Hong Kong.
Persons:
Estee Lauder, Fabrizio Freda, Freda —, Freda, it's, Jim Cramer's, Jim Cramer, Jim, Estée Lauder, Budrul
Organizations:
UBS Global Consumer, Retail Conference, UBS, Management, CNBC, Lightrocket, Getty
Locations:
China, New York City, U.S, Asia, American, Hong Kong