Decreased demand on the Chinese market means that cosmetics giant Estée Lauder is now withdrawing its full-year forecast for 2025. The news causes the stock to plummet 13 percent in pre-trading on the New York Stock Exchange.
The company, which will get a new CEO in the form of Stéphane de La Faverie from January, has had a tough 2024 with a stock price decline of 40 percent, while the broad S&P 500 index has risen by around 22 percent.
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