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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Estee Lauder Companies Inc | NYSE:EL | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 2.39 | 1.65% | 147.38 | 147.71 | 143.71 | 145.76 | 2,435,851 | 01:00:00 |
From Apr 2019 to Apr 2024
By Kimberly Chin
Estee Lauder Cos. (EL) said its multi-year restructuring initiative, which began in May 2016, will cost more than it previously projected.
The company now expects the effort to cost between $950 million and $990 million before taxes, up from its previous guidance of $900 million to $950 million.
However, it also anticipates cost savings between $425 million and $475 million before taxes, up from its prior forecast of $350 million to $450 million.
The Leading Beauty Forward initiative is aimed at helping the company cut costs, streamline operations and exit underperforming businesses. It expects to substantially finish those efforts by fiscal 2021.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
August 19, 2019 09:52 ET (13:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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