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Fashion Jobs
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Product Owner For One of The Style Products Within Customer Engagement Area
Permanent · Stockholm
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Buyer to h&m Home – Kids Section
Permanent · Stockholm
H&M
Product Owner to Global Connectivity, h&m Group
Permanent · Stockholm
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Merchandise Manager
Permanent · Stockholm
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Cross Delivery Coordinator to Sap Test Management, h&m Group
Permanent · Stockholm
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Data Analyst to Allocation Precision Team to Business Tech
Permanent · Stockholm
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Head of Expansion & New Business - h&m Beauty
Permanent · Stockholm
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Data Analyst to h&m Business Tech - Payments Area
Permanent · Stockholm
H&M
HR-Specialist Within Labour Law
Permanent · Stockholm
H&M
Business Developer to The Laboratory
Permanent · Stockholm
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Product Area Analyst For Customer Commerce Delivery @h&m Business Tech
Permanent · Stockholm
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Packaging Solution Business Expert, h&m Group
Permanent · Stockholm
H&M
Product Owner to Sap Release & Delivery Management, h&m Group
Permanent · Stockholm
H&M
Area Operation Manager - Network, h&m Group
Permanent · Stockholm
H&M
Marketplace - Business Expert / Project Manager to External & New Sales Channel
Permanent · Stockholm
H&M
Business Expert / Compliance to Checkout at h&m
Permanent · Stockholm
H&M
Product Owner to Store Lifecycle
Permanent · Stockholm
H&M
Product Owner Within Cloud Platform
Permanent · Stockholm
H&M
Product Owner For Finance Automation to h&m Group
Permanent · Stockholm
H&M
Information Security Specialist
Permanent · Stockholm
H&M
Business Expert Within Allocation Precision
Permanent · Stockholm
H&M
Way of Working Specialist - Data & Analytics at h&m Business Tech
Permanent · Stockholm
By
Reuters
Published
Nov 2, 2021
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Estee Lauder cuts annual sales forecast on supply chain, Delta hit

By
Reuters
Published
Nov 2, 2021

Estee Lauder Cos Inc cut its full-year sales forecast on Tuesday, as the cosmetics maker grapples with industry-wide supply chain problems and takes a hit from the resurgence of COVID-19 cases in its key markets.


Photo: La Mer



The company's shares were down 2.2% in premarket trade, as renewed restrictions due to the Delta variant in some Eastern markets as well as in parts of Europe and Latin America dampened demand for the M.A.C brand owner's lipsticks and foundations in the first quarter.

Estee said its makeup category was the only segment yet to reach 2019 levels and added that traffic at its stores that were open also had not breached pre-pandemic levels.

Adding to Estee's woes, a global supply chain crunch resulting from port congestions and a shortage of labor has led to delays in transportation, and is expected to add to its expenses through the rest of fiscal 2022.

However, the La Mer beauty products maker said it would increase prices, use air freight and less congested ports in its effort to offset the impact.

The Clinique cosmetics maker now expects net sales to rise between 12% and 15% in fiscal 2022, down from its prior estimate of a 13% to 16% increase.

Still, Estee's first-quarter revenue and profit beat Wall Street expectations, boosted by strength in its La Mer and Clinique skin care brands as shoppers kept up their nighttime routines even as restrictions eased.

The New York-based company's net sales rose to $4.39 billion in the first quarter, from $3.56 billion a year earlier. Analysts on average had expected sales of $4.25 billion, according to IBES data from Refinitiv.

On an adjusted basis, the company earned $1.89 per share, beating estimates of $1.70.

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