EL Lifts Outlook on Luxury Fragrance Demand, Trims Promotional Spending
What happened
Estee Lauder lifted its financial outlook after results came in ahead of expectations, buoyed by demand for high-end fragrances, Reuters reported. The company is also trimming promotional activity across its prestige portfolio, per the report, with the fragrance category cited as a driver of the improved guidance.
The QL Read
Consumer discretionary leads sectors at +2.79% with the VIX at 19.04; EL trades down 1.85% at $107.23 and carries a QuantLogix composite score of 73/100.
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