Estee Lauder braces for $100-M hit from tariffs

News Snapshot:

ESTEE Lauder said on Wednesday it would cut inventory and promotions to help mitigate rising costs, after the luxury cosmetic maker warned that a $100-million hit from tariffs would weigh on its annual profit forecast. The company’s shares fell about 4 percent in afternoon trading after Estee Lauder also forecast annual profit below estimates. Higher costs related to the Trump administration’s unpredictable trade policies have dampened consumer spending, hurting businesses, especially higher-end brands like Estee Lauder and Tapestry as the luxury sector struggles with sagging demand. “This highlights broader pressures on the beauty industry since even those companies that don’t...