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Estée Lauder Companies first-quarter earnings on Thursday laid bare the uphill journey incoming CEO Stéphane de La Faverie has ahead of him.
The beauty giant announced net sales had declined 4 percent to $3.36 billion, with a particularly painful 11 percent slide in China, and a 7 percent drop in skincare, its biggest category. It also trimmed its second-quarter sales outlook from flat to minus 8 to 6 percent. Earlier in the day, the company withdrew its 2025 guidance and cut dividend…
