INDUSTRY SPEAKS OUT ON CORONAVIRUS

摘要

In the wake of the coronavirus outbreak, Estee Lauder Companies (ELC), has lowered its net sales outlook for the second half of the year. The maker of Clinique, La Mer and Bobbi Brown confirmed in its Q2 Fiscal Report that it expects to be "adversely impacted" over the next few months, as a decline in air travel and consumer traffic in key markets slows trade. Reported net sales are forecasted to increase between 0% and 1%, compared with the previous year. Q3 is expected to be hit hardest by declining sales. However, the company's stocks have since recovered from their initial tumble.