Estee Lauder Cos Inc reported a 32% fall in fourthquarter sales on Thursday, as travel restrictions and store closures imposed to contain the spread of the coronavirus dampened demand for its highend beauty brands.
- Reuters
- Last Updated: August 20, 2020, 4:30 PM IST
The M.A.C. brand owner also said it would cut 1,500 to 2,000 jobs globally, including point-of-sale employees. It also estimated that it would close 10%-15% of its freestanding stores.
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