Estee Lauder beats quarterly sales estimates, to cut more jobs

ReutersMay 1, 2026 10:06 AM

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May 1 (Reuters) - Cosmetics maker Estee Lauder EL.N beat Wall Street estimates for third-quarter sales on Friday, driven by improving sales in markets including China and Europe and benefits from CEO Stephane de La Faverie's turnaround push.

The company, which has been in talks to merge with Jean Paul Gaultier-owner Puig PUIGb.MC, posted quarterly sales of $3.71 billion, compared with analysts' estimates of $3.69 billion, according to data compiled by LSEG.

The company estimates final net reductions in positions of 9,000 to 10,000 from earlier 5,800 TO 7,000.

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