Latest news with #EsteeLauder
Daily Mail
a day ago
- Business
- Daily Mail
Big Short investor Michael Burry liquidates entire portfolio - except for one stock
Michael Burry, the investor who famously bet against the US housing market before the 2008 crash, has once again sounded the alarm and dumped all of his stock - except one. In a dramatic move revealed by recent SEC filings, Burry's Scion Asset Management has slashed its portfolio to just seven positions. Six of them are aggressive short bets: bearish put options against some of the biggest names in tech and Chinese equities, including Nvidia, Alibaba, and Baidu. Only one company appears to have managed to retain Burry's faith: Estee Lauder, where Burry has doubled down, boosting his holdings to 200,000 shares valued at $13.2 million. While cosmetics may be an unusual choice ahead of a potential financial meltdown, it's not without logic. In times of economic distress, consumers often indulge in small luxuries even as they forego big-ticket items - a phenomenon known as the 'lipstick index.' When wallets tighten, lipsticks replace dresses; with small indulgences offer a balm for economic wounds. Under new CEO Stephane de La Faverie, Estee Lauder is trying to reassert itself in a struggling global beauty market, particularly in North America and China. Bearish has taken out aggressive short bets: bearish put options against some of the biggest names in tech and Chinese equities, including Alibaba and Baidu Only one company appears to have managed to retain Burry's faith: Estee Lauder, where Burry has doubled down, boosting his holdings to 200,000 shares valued at $13.2 million. Product launches have accelerated. Luxury price tiers have been introduced. Still, Estee's stock is down 15% year-to-date, although it did gain 2% on Friday amid broader market turmoil. 'Burry's bet suggests belief in Estee Lauder's ability to reclaim its status as a beauty powerhouse in an increasingly competitive global market,' said Angeli Gianchandani, a global brand marketing expert at New York University. Burry appears to be bracing for a hard crash when it comes to the market and there are warning signs that have not been seen since the depths of the 2008 crisis. Burry rose to fame with his bets against the US housing market before the 2008 financial crisis. Michael Lewis' nonfiction book The Big Short was released in 2010 and the movie version came out in 2015. He also profited in the early 2000s by shorting high-flying tech stocks during the peak of the Dot Com bubble. However, his bets have sometime appeared to misfire. In late 2020, he initiated short positions against Tesla stock, but later said it was just 'a trade' and he'd exited the position after Tesla's stock continued to soar. This also isn't the first time Burry has gutted his portfolio. In 2023, he famously dumped most of his holdings only to later admit he was wrong. Markets are also seeing a flight to alternative assets. Gold has surged 24% year-to-date, outperforming Bitcoin's 12% gain, as investors hedge against a weakening U.S. dollar down 8% this year. Bitcoin has caught a second wind as well, bolstered by adoption from both corporations and state governments. Arizona and New Hampshire have passed legislation establishing strategic Bitcoin reserves and wwo dozen more states are considering similar measures. Not everyone is convinced, however, and JPMorgan's analysts recently noted that while Bitcoin may offer high returns, gold remains the safer bet for risk-averse investors seeking protection against geopolitical risks and currency debasement. 'We are skeptical that Bitcoin and other crypto assets offer the potential to improve portfolio resilience. Despite their low correlations to traditional assets, crypto assets have historically made portfolios more fragile,' JPMorgan analysts wrote. In the bond market, yields on the 10-year Treasury note have surged to 4.54%, while 30-year bonds are touching pre-2008 crisis levels above 5%. The moves can be seen unsettling because of their cause - the fear that Washington is about to unleash a new wave of new debt. With Moody's recently downgrading America's credit rating, concerns about fiscal instability have only deepened, reinforcing investor skepticism about the sustainability of Washington's approach. House Republicans, steered by Speaker Mike Johnson and under the watchful eye of Donald Trump, muscled through the so-called 'One Big Beautiful Bill' - a sprawling package of tax cuts and spending increases that could, according to the nonpartisan Congressional Budget Office, add $3.8 trillion to the deficit over the next decade. Christian Bale portrayed Burry in the 2015 film The Big Short. Burry rose to fame with his bets against the US housing market before the 2008 financial crisis but has not always been right With yields rising, equities look increasingly vulnerable as a place to park cash. The S&P 500 has clawed back most of the losses incurred when Donald Trump introduced his tariffs back in April. Mortgage rates are at highs not seen since the Great Recession with the average contract interest rate for a 30-year fixed-rate mortgage close to 6.92%. Credit card and auto loan rates are surging. Households and businesses are feeling the squeeze. And while politicians in Washington plays games with tax breaks and entitlement cuts, real Americans are bracing for impact. Cuts to Medicaid and food stamps loom on the horizon. Healthcare for millions could be stripped away. SNAP benefits could shrink hitting low-income Americans the hardest. 'This bill is a debt bomb ticking,' warned Rep. Thomas Massie (R-Ky.). 'I'd love to stand here and tell the American people, "We can cut your taxes and increase spending and everything's going to be just fine." But I can't do that because I'm here to deliver a dose of reality. This bill dramatically increases deficits in the near term but promises our government will be fiscally responsible five years from now. Where have we heard that before? How do you bind a future Congress to these promises? This bill is a debt bomb ticking.'
Time of India
2 days ago
- Business
- Time of India
Indian beauty products retailer Nykaa's profit surges on demand for premium products
Indian beauty products retailer Nykaa , on Friday, posted a fourth-quarter profit that nearly tripled year on year as premium brands continued to attract urban consumers . The company, listed as FSN E-Commerce Ventures , said its consolidated net profit rose to 202.8 million rupees ($2.4 million) in the quarter, from 69.3 million rupees a year ago. Nykaa's total revenue, over 92% of which comes from its beauty products, jumped nearly 24% to 20.62 billion rupees. Sales of beauty products, including from international brands such as Estee Lauder and singer Rihanna's Fenty Beauty , increased 25% to 18.95 billion. The premium segment in India's $28 billion beauty and personal care industry has defied a broader slowdown in urban consumption as upper middle class and richer consumers continued to splurge on discretionary items. Live Events Higher sales of premium products helped Nykaa's gross margins expand by 151 basis points to 44.1% in the quarter. The company's net profit also got a boost from total expenses rising 23%, less than total revenue growth, to 20.31 billion rupees. Revenue from Nykaa's fashion apparel business climbed 11% to 1.61 billion rupees in the quarter. Economic Times WhatsApp channel )
Daily Mirror
3 days ago
- Health
- Daily Mirror
Boots' £34 box with No7 and Estee Lauder is 'well-earned treat'
Buying the pre-packed box of goodies will save shoppers over £100 when buying items separately Boots says shoppers can unwind and relax with a range of beauty products offered at "unbelievable value for money. " With this collection of products available for a fraction of the normal price, the store says people can give themselves or a loved one a "well-earned treat." The Self Care Beauty Box costs just £34 but includes £137 worth of products, with popular brands like No7, Hismile and Estee Lauder. Out of the bundle of 12 items, seven are offered as full-sized products. Boots wrote online: "Being in your self-care era is exactly where you need to be." It added: "Our latest beauty box includes everything you need to help you feel more relaxed than a Sunday morning with no alarm." The collection includes items for the bath, shower or general at-home pampering. The full list of what the box contains is below: Westlab Relax Bath Salt (1kg, FULL SIZE - worth £4.50) Wella Professionals Ultimate Repair Night Hair Serum (30ml - worth £20) Soap & Glory Perfect Zzzen (200ml, FULL SIZE - worth £8.99) Philip Kingsley Elasticizer Deep Conditioning Treatment (40ml - not available to buy separately at Boots) First Aid Beauty Ultra Repair Cream (56.7g, FULL SIZE - worth £16) Sanctuary Spa Wellness Sleep Mist (100ml, FULL SIZE - worth £15) FUL Scalp Massager Shampoo Brush (worth £9.50) No7 Radiance+ Vitamin C Daily Brightening Moisturiser (50ml, FULL SIZE - worth £17.95) No7 Radiance+ Vitamin C Glow Toner (200ml, FULL SIZE - worth £12.95) Hismile PAP+ Teeth Whitening Strip (Sample Size, 1 strip - not available to buy separately at Boots) Estee Lauder Advanced Night Repair Synchronized Multi Recovery Complex (7ml - worth £16) Shoppers also get one randomly selected Yankee Candle Votive in each box. This will be either Black Coconut, Red Raspberry, or Lemon Lavender. For alternatives, Next is selling boxes with different themes depending on what self-care means to you. There is the £22 Rise & Radiate Skincare set (worth £115) or the £30 Calm Collective Beauty Box (Worth Over £123). Also, GLOSSYBOX has its Essential Beauty Picks (worth £90) on sale for just £40. However, the Boots bundle is already gaining many five-star reviews from shoppers who say it is a "well-earned treat." One said: "Fantastic value - this box contains so many products that it is unbelievable value for money. I'd highly recommend it!" Another added: "A lovely self care treat. This box had so much in it and loads of new products to try, many of the products I will buy again." A third wrote: "Amazing value for quality of products. Loads of full size and the Ester Lauder product makes it a well-earned treat!" Reviews on the bundle itself were largely positive, with it having an almost flawless 4.9 stars out of 5 overall. Looking at individual product reviews, some critics of some products voiced their opinions. One of the most expensive items in the bundle - No7 Radiance+ Vitamin C Daily Brightening Moisturiser - had some shoppers complaining that it "didn't work". Some suggested it wasn't suitable for certain skin types with sensitivities. The well-established Estée Lauder-branded product had over 21,000 reviews, including its critics. A few claimed that it "didn't make a difference" to their skin, and one warned: "It left my face feeling really dry and itchy." And, those who invested in the full pack of Hismile PAP+ Teeth Whitening Strips suggested the strips "made no real difference". Another person claimed to have difficulty with the instructions: "Firstly, how to dry your teeth before using it? Tried my best, but it wasn't sticking. Waste of money and thirty five minutes of my life!"
Reuters
3 days ago
- Business
- Reuters
Ulta Beauty raises annual profit forecast, posts upbeat quarter on resilient demand
May 29 (Reuters) - Ulta Beauty (ULTA.O), opens new tab raised its annual profit forecast after beating quarterly results on Thursday, as lower inventory losses as well as new launches such as Milk Makeup and K-Beauty skincare brands helped drive demand at its stores. Shares of the company were up about 8% in trading after the bell. Cosmetics retailer saw uptick in sales across its stores, especially from younger shoppers willing to spend on trendy and affordable brands such as Elf Beauty (ELF.N), opens new tab. Ulta Beauty has strengthened customer traffic by introducing celebrity-owned brands, such as Rihanna's Fenty Beauty, along with investments in marketing and digital channels. The company expects annual profit to be in the range of $22.65 to $23.20 per share, compared with a prior forecast of $22.50 to $22.90 per share. It posted quarterly sales of $2.85 billion, compared with the analysts' estimate of $2.79 billion, as per data compiled by LSEG. The company's comparable sales in the quarter ended May 3 rose 2.9% compared to a year ago, driven by a 2.3% increase in average ticket and a 0.6% rise in transactions. It earned quarterly adjusted profit of $6.70 per share, topping the estimate of $5.81 per share. Budget-cosmetic brand Elf Beauty posted an upbeat quarter on resilient demand, while luxury firms such as Estee Lauder's (EL.N), opens new tab business remained pressured due to tariff uncertainty. The Trump administration's unpredictable tariff shifts have disrupted businesses and shaken consumers worldwide, who are now bracing for an economic recession. Ulta Beauty expects comparable sales for fiscal 2025 to be in the range of flat to up 1.5%, compared with the prior forecast of flat to up 1%. "The operating environment is fluid, and our outlook reflects uncertainty around how consumer demand could evolve," said CEO Kecia Steelman. Lower inventory losses or damages helped Ulta Beauty in countering higher store and supply chain-related costs. Its quarterly gross profit increased 4.2% to $1.11 billion compared with a year ago.
National Post
4 days ago
- Business
- National Post
Lisa Sequino Appointed President, Makeup Brand Cluster, The Estée Lauder Companies
Article content NEW YORK — The Estée Lauder Companies Inc. (NYSE: EL) today announced the appointment of Lisa Sequino as the new President, Makeup Brand Cluster, responsible for leading the strategic direction and global growth of makeup, and overseeing the company's portfolio of makeup brands, including M·A·C, Bobbi Brown, Too Faced, Smashbox and GLAMGLOW. Ms. Sequino will report to Jane Hertzmark Hudis, Executive Vice President, Chief Brand Officer and will be effective in the role as of June 9, 2025. Article content Article content A respected leader with more than two decades of experience in the beauty industry, Ms. Sequino returns to The Estée Lauder Companies with a distinctive blend of deep institutional knowledge and proven success as a CEO. In her new role, she will be responsible for accelerating innovation and makeup trends, step-changing consumer recruitment and enhancing local relevance. Her appointment reflects the company's continued investment in strengthening its makeup category and unlocking long-term opportunity. Article content 'We are thrilled to welcome Lisa as the new leader of our makeup cluster,' said Jane Hertzmark Hudis. 'She is a powerful leader with a strong record of driving brand and business results. Her unique combination of strategic and conceptual thinking, entrepreneurial mindset and operational excellence makes her exceptionally well-suited to fast track our makeup cluster into its next phase of growth. Under Lisa's leadership, we are focused on winning with today's makeup consumer across generations, geographies and channels.' Article content With nine years of experience at The Estée Lauder Companies in senior roles across both global and North America businesses, Ms. Sequino's extensive familiarity with the company and its brands will enable her to quickly accelerate momentum across the makeup brand cluster. She served as Senior Vice President and General Manager of Estée Lauder – North America, where she led the go-to-market strategy and execution for the company's flagship brand in its home region. She later advanced to Senior Vice President, Brands – North America, where she oversaw a multi-brand portfolio across skincare, makeup, and fragrance, and was responsible for optimizing brand synergies and accelerating execution across categories and channels in the region. Article content Following her impactful tenure at the company, Ms. Sequino served as CEO of JLo Beauty, Jennifer Lopez's beauty brand, and most recently, was CEO of Supergoop!, where she fostered an indie and digital-first mindset to expand its global footprint. Under her leadership, Supergoop! captured emerging trends to launch innovative products for the brand – including tinted moisturizers, lip balms, and setting powders – that redefined the category for Supergoop! and broadened consumer usage occasions. Article content 'I'm excited to return to The Estée Lauder Companies to help drive the next chapter of growth in the makeup category,' said Lisa Sequino. 'There's tremendous opportunity to reach new makeup consumers globally by accelerating innovation and trends, fast-tracking consumer acquisition across channels, driving digital and social media, and assuring local relevance to win with today's makeup consumer. I look forward to partnering with the incredible teams behind M·A·C, Bobbi Brown, Too Faced, Smashbox, and GLAMGLOW to unlock new opportunities, scale impact, and drive meaningful business results.' Article content Cautionary Note Regarding Forward-Looking Statements Statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include those in the various quotations. Although the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, actual results may differ materially from the Company's expectations. Factors that could cause actual results to differ from expectations include the ability to successfully implement the Company's strategy, including Beauty Reimagined and the profit recovery and growth plan; successfully transition its leadership; and those other factors described in the Company's filings with the Securities and Exchange Commission, including its most recent filings with the Securities and Exchange Commission. The Company assumes no responsibility to update forward-looking statements made herein or otherwise. Article content About The Estée Lauder Companies The Estée Lauder Companies Inc. is one of the world's leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The Company's products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty. Article content Article content Article content Contacts Article content Article content Article content
