Estée Lauder sales fall in ‘difficult year’ as CEO departs

Estée Lauder has seen sales dip by 2% to $15.6bn (£12bn) in its full-year results, in part due to an “ongoing softness” in the China market, whilst also forecasting a fall in sales for the current fiscal year. While the group forecast lower than expected sales and earnings in FY25, it also announced that its CEO of 15 years, Fabrizio Freda, will be stepping down from his position.