Estée Lauder Stock Jumps as Beauty Giant Cuts More Jobs and Raises Profit Forecast
Estée Lauder raised its fiscal 2026 profit outlook and said it will cut 9,000 to 10,000 jobs, or up to 17.5% of staff, under an expanded restructuring plan. Third-quarter net sales rose 5% to $3.71 billion, with adjusted earnings at 91 cents a share. Shares climbed about 7% in early trading. The company is pursuing a possible merger with Spain’s Puig.