India, May 1 -- Estee Lauder Companies Inc. (EL), while reporting lower profit in its third quarter despite revenue growth, on Friday revised fiscal 2026 expectation while remaining cautious amid ongoing geopolitical and macroeconomic uncertainty.
Further, the firm has revised its restructuring expectations, now expecting to cut more jobs than announced earlier.
In pre-market activity, the shares were gaining around 12 percent to trade at $85.94.
The company now estimates a final net reduction in positions of 9,000 to 10,000, an increase from 5,800 to 7,000 announced earlier. Over 70 percent of the increase in job reduction will be in point-of-sale demonstration roles at select unproductive doors in its department store and freestanding ...