Estee Lauder cuts profit forecast on Hong Kong, China troubles

The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, U.S., October 21, 2019. REUTERS/Shannon Stapleton

(Reuters) – Estee Lauder Cos Inc (EL.N) cut its full-year profit forecast on Thursday, citing challenges due to months-long protests in Hong Kong and slowing growth in China.

The company now expects 2020 adjusted profit between $5.85 and $5.93 per share compared with its prior range of $5.90 to $5.98.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli


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