Concerns over China travel spending hit Estee Lauder, Coty
Oct. 04, 2018 1:35 PM ETThe Estée Lauder Companies Inc. (EL)EL, COTYBy: Clark Schultz, SA News Editor28 Comments
- Estee Lauder (EL -4.7%) and Coty (COTY -7.6%) trade lower after Jefferies points to decelerating demand from the China travel retail for beauty products.
- The category is being closely watched to gauge the impact of the China currency devaluation, per Bloomberg.
- Coty traded near the bottom of its 52-week range, while Estee Lauder is above the 52-week midpoint mark.