Estee Lauder Further Reduced Skin Care Production in 2H, CFO Says

A decline in Estee Lauder's skin-care sales in Asia drove the company's overall drop in sales in the latest quarter. "The incremental pressures from impacting sales in our Asia Travel Retail business and Mainland China are expected to continue to more than offset anticipated growth in other markets globally," CFO Tracey Travis says in a call with analysts. In the U.S., the beauty giant's 76% stake in The Ordinary brand allowed the company to return to growth in skincare sales in the U.S., but its namesake Estee Lauder and La Mer brands saw declines in the period, Travis says.