Estee Lauder forecast annual profit above many Wall Street ​estimates on Wednesday, betting its CEO's turnaround strategy would deliver sustained demand for luxury fragrances and strong performance in major growth market ‌China. [...] Resilient spending by affluent and younger customers has boosted demand for the cosmetics maker's luxury fragrances and skincare products, such as Le Labo and Balmain Beauty. The company wants the same momentum ​for its makeup and hair care categories, for which net sales were respectively flat and declining.

— Read more in Estee Lauder bets on fragrances and skincare to deliver strong annual profit at Reuters.

Shares of Clinique and M.A.C owner, whose merger conversations with Jean Paul Gaultier-owner ​Puig collapsed ​in May, rose nearly 7% in premarket trading after it also topped quarterly sales estimates. Resilient spending by affluent and ‌younger customers, especially ​on trendy items, has helped boost demand for ‌the cosmetics maker's luxury ⁠fragrances and skincare products such as Le Labo ‌and Balmain Beauty.

— Read more in Estee Lauder forecasts annual profit above estimates on strong China demand, sales and profit growth in FY26 at Fashion Network.