Estee Lauder sees weaker annual forecast on slow recovery in Asia travel retail

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Published Aug 18, 2023 06:50AM ET Updated Aug 18, 2023 07:00AM ET © Reuters. FILE PHOTO: An Estee Lauder cosmetics counter is seen in Los Angeles, California, U.S., August 19, 2019. REUTERS/Lucy Nicholson EL -0.04% Add to/Remove from Watchlist (Reuters) -Estee Lauder projected full-year net sales and profit below market expectations on Friday, signaling a slower-than-expected recovery in its travel retail business, mainly in Asia, and easing demand in the United States. Shares of the New York-based company were down about 2% in premarket trade. Major companies across the globe have taken a cautious stance regarding their bets on a...