Estee Lauder Cos. slumped today, declining the most in the Ideal & Poor’s 500 Index, after the maker of Clinique and Bobbi Brown makeup lines forecast profit in 2012 will be below the typical analyst estimate.
The New York-based company said in a statement today adjusted earnings next year will at least $4 a ration and no more than $4.20, falling short of the $4.35 median prediction by analysts in a Bloomberg survey. Chief Regulatory Officer Fabrizio Freda said on a conference call with investors he expects a “much tougher” competitive environs.
To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net .