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Asharq Al-Awsat
Asharq Al-Awsat
Lifestyle
Asharq Al-Awsat

Estee Lauder Cuts Annual Sales Forecast on China COVID Curbs, Ukraine Crisis

Estee Lauder Ukraine China Bobbi Brown Mac United States Luxury Pandemic Russia Supply chain
An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)

Estee Lauder Cos Inc cut its full-year sales forecast on Tuesday, as fresh COVID-19 restrictions in China and Russia's invasion of Ukraine dampen demand for the cosmetics maker's luxury products.

The company's shares were down 9% in pre-market trading on low volumes.

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