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Este Lauder sales nose dive
Beauty supplier Estée Lauder yesterday met analysts’ profit expectations despite a steep sales decline said the current quarter could be stronger than anticipated as it trims costs in a tough climate. Estée Lauder posted a net loss of $17.9m (£10.8m), for the fourth quarter ended 30 June, compared with a year-earlier profit of $120.2m. Sales fell by 16 per cent, lower than analysts’ predicted to $1.68bn.