Why Estee Lauder's Stock Is Trading Lower Today

Estee Lauder Companies (NYSE: EL) shares are trading lower after the company reported worse-than-expected fourth-quarter EPS and sales results.

“Through the Post-COVID Business Acceleration Program announced today, we are better aligning our brick-and-mortar footprint to improve productivity and invest for growth. We are well-positioned to drive growth as the market dynamics support it, yet remain equally mindful of the effects of COVID-19 on consumers, the retail sector and economics, in general, as well as geopolitical uncertainty," said Fabrizio Freda, President and Chief Executive Officer.

View more earnings on EL

Estee Lauder is a leader in the beauty market, participating across skincare (45% of 2019 sales), makeup (39%), fragrance (12%), and haircare (4%) categories, with popular brands such as Estee Lauder, Clinique, MAC, La Mer, Jo Malone, Aveda, Bobbi Brown, Too Faced, and Origins.

Estee Lauder was trading 8% lower at $195.13 at time of publication. The stock has a 52-week high $220.42 and a 52-week low of $137.01.

See more from Benzinga

• Why OpGen's Stock Is Trading Higher Today

• 7 Stocks Moving In Wednesday's After-Hours Session

• Former Microsoft CEO, Detroit Native Steve Ballmer Makes Major Motown Museum Donation

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.