Estee Lauder lowers forecast

COSMETICS company Estee Lauder forecast fiscal year earnings below Wall Street’s expectations after turning in a better than expected quarterly profit and its shares fell 6.2%.

Estee Lauder   lowers forecast

Profit in the fourth quarter of fiscal 2011, which ended in June, came in just ahead of analysts’ expectations.

The company forecast fiscal year 2012 earnings of $4 to $4.20 per share, excluding items, while analysts were expecting it to earn $4.37 a share.

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