Estee Lauder Forecasts Annual Profit Below Estimates as Tariffs Hit
Shares of the company were down about 12% in premarket trading.
The company expects a hit of about $100 million from tariff-related headwinds to fiscal 2026 profitability.
Estee Lauder, like other luxury brands and retailers, took a hit from consumers keeping a tight lid on expenses in the face of surging product prices owing to US President Donald Trump's sweeping tariffs on imports.
The company expects full-year adjusted earnings per share to be in the range of $1.90 to $2.10, compared with analysts' estimates of $2.21 per share, as per data compiled by LSEG.
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Arab News
2 hours ago
- Arab News
Pakistani analysts urge Islamabad to undertake ‘serious efforts' to expedite CPEC projects
ISLAMABAD: Pakistani foreign policy analysts on Thursday urged the government to undertake 'serious efforts' to ensure implementation of long-delayed projects part of the China-Pakistan Economic Corridor (CPEC), which include special economic zones (SEZs), modernizing railway lines and extending the corridor to Afghanistan. Islamabad and Beijing said on Thursday they would prioritize 'high-quality' cooperation under CPEC, unveiling plans for an upgraded version of the multibillion-dollar flagship Belt and Road project. CPEC was launched in 2015 and is essentially an infrastructure network that includes energy, highways, railways projects, and the development of the Gwadar Port on the Arabian Sea connecting Pakistan and China. The announcement came during Chinese Foreign Minister Wang Yi's visit to Pakistan. While Pakistan has said the project is extremely vital to revive its struggling economy, political, security and economic challenges have caused CPEC projects to suffer delays. Pakistani economists and foreign policy experts said that while CPEC holds vast economic potential, consistent policies by Pakistan and its accelerated implementation are required for tangible results. Shakeel Ramay, an economist, said SEZs were a key part of the CPEC that could not be established at the required pace due to governance, political, and other challenges. 'The positive point is that the government has now realized their importance and is working on it, but serious efforts are needed to expedite the implementation,' Ramay added. Ramay also highlighted delays in the Main Line-1 (ML-1) railway project. The ML‑1, a $6.7 billion upgrade of Pakistan's 1,687-kilometer Karachi–Peshawar rail artery first agreed upon in May 2017, is central to CPEC. The overhaul, involving track doubling, advanced signaling and higher-speed trains, is expected to boost cargo and passenger capacity while easing the transport of trade goods to and from the country's southern ports. 'The hope is there for the project to kickstart with Pakistan and China's openness to third-party inclusion creating opportunities for the Asian Development Bank, World Bank, and other investors,' Ramay said. China is also involved in the development of a deep-sea port in Pakistan's Gwadar city, located in its impoverished southwestern Balochistan province. In January this year, Pakistan operated the first commercial flight at the Gwadar International Airport, which has been developed with Chinese funding. Ramay noted that implementation of CPEC projects in Gwadar was visible, despite hurdles. 'The Chinese government has donated 5,000 solar units, built a state-of-the-art hospital, and, along with Pakistan, is investing in skills development,' he said, adding that 30 Chinese and Pakistani companies have invested almost 3 billion Yuan ($418 million) in the Gwadar Free Trade Zone. CPEC's EXPANSION INTO AFGHANISTAN Yi and the foreign ministers of Pakistan and Afghanistan held trilateral talks in Kabul this week. The three sides agreed to strengthen economic, trade and security cooperation, and extend CPEC to Afghanistan. However, ties between Pakistan and Afghanistan remain tense as Islamabad blames Kabul for not taking action against militants it alleges launch attacks on Pakistan from its soil. Kabul denies the allegations. Naghmana Hashmi, Pakistan's former ambassador to China, said extending CPEC to Afghanistan had always been seen as a natural step to link Central Asia together. However, she said security issues delayed the plan. 'Without peaceful Afghanistan and secure transit, CPEC could not completely develop for Pakistan,' she told Arab News. Hashmi noted that while the Taliban initially stayed away from the idea to extend CPEC into Afghanistan, they later endorsed it. She said that with the Taliban now in power in Afghanistan, internal security for CPEC projects in the country might not be a 'major challenge.' Dr. Talat Shabbir, director of the China-Pakistan Study Center at the Institute of Strategic Studies Islamabad, said CPEC's expansion into Afghanistan could take time given the complex bilateral relationship between Islamabad and Kabul. 'Political and bilateral connectivity is essential for such a venture, but I am hopeful that progress will be made soon as the Chinese are actively working on this aspect,' Shabbir said. Security of Chinese nationals in Pakistan working on CPEC projects, however, has been an area of concern for both nations. Militant attacks in Balochistan, northwestern Pakistan and Karachi targeting Chinese nationals have urged Beijing to express concern over the safety of its citizens in Pakistan. Shabbir noted that Pakistan had bolstered security for Chinese citizens in the wake of these attacks. 'Looking ahead into 2025, Pakistan is further upgrading its security protocols with a mix of technology, intelligence sharing, and community-level engagement in CPEC areas,' he said.
Al Arabiya
6 hours ago
- Al Arabiya
China eyes agricultural, mining cooperation with Pakistan, foreign minister says
China is willing to cooperate with Pakistan in industry, agriculture and mining, Foreign Minister Wang Yi told Pakistan's Foreign Minister Ishaq Dar in Islamabad on Thursday, according to a readout of the meeting releases by Wang's ministry. Beijing would continue to support Pakistan in safeguarding its national independence, sovereignty and territorial integrity and combating terrorism, Wang said, adding that China would continue to give priority to Pakistan in its regional diplomacy.
Arab News
7 hours ago
- Arab News
China, Pakistan set upgraded CPEC as top priority during strategic dialogue in Islamabad
ISLAMABAD: China and Pakistan on Thursday said they would prioritize 'high-quality' cooperation under the China-Pakistan Economic Corridor (CPEC), unveiling plans for an upgraded version of the multibillion-dollar flagship Belt and Road project. The CPEC infrastructure program was launched in 2015 and includes energy projects, highways, railways and the development of the Gwadar Port on the Arabian Sea, aimed at improving connectivity between western China and the Indian Ocean while boosting Pakistan's infrastructure and economy. 'The two sides agree that the current priority for China-Pakistan cooperation is high-quality CPEC cooperation and build an upgraded version of CPEC,' Chinese Foreign Minister Wang Yi told reporters during a joint press conference with his Pakistani counterpart Ishaq Dar after they held strategic talks in Islamabad, covering trade, security, counterterrorism and preparations for Prime Minister Shehbaz Sharif's visit to China later this month. 'We will build on our past achievements to build a growth corridor, a livelihood enhancing corridor, an innovation corridor, a green corridor and an open corridor to promote greater synergy between the five corridors with Pakistan's development planning.' Wang said China would also deepen cooperation in industry, agriculture and mining to improve welfare and boost Pakistan's ability for self-sustained development. 'We will also jointly support the development and operation of the Gwadar Port and promote the KKH realignment project in an orderly manner and we welcome third-party participation in ML1 project,' the Chinese foreign minister added. He was referring to upgrading the Karakoram Highway, the main road link between Pakistan and China through the Himalayas, and the Main Line-1 railway project, a massive plan to upgrade Pakistan's Karachi–Peshawar railway line, the backbone of the country's rail network. Wang also praised Pakistan's counterterrorism campaign: 'China firmly believes that Pakistan's counterterrorism efforts will help secure victory, and Pakistan will effectively protect the safety and security of Chinese personnel, projects and institutions.' Both sides also vowed to 'deepen counterterrorism and security cooperation and enhance regional coordination.' Speaking at the joint press conference, Dar welcomed China's vision for expanding cooperation in trade, investment and people-to-people ties under 'CPEC 2.0,' which would focus on industrial zones, green energy and agricultural modernization. The Pakistani leader confirmed that PM Sharif would travel to China to attend the Shanghai Cooperation Organization Council of Heads of State Summit, scheduled to be held from Aug. 31-Sept. 1. He will also meet the top Chinese leadership, including President Xi Jinping and Premier Li Qiang. A Pakistan-China business-to-business investment conference would also be organized during Sharif's visit, Dar added.
