#levistrauss profit hit by cotton, discounts. how long will this story play?
(Reuters) – Cosmetics company Estee Lauder Cos Inc (EL.N: Quote, Profile, Research, Stock Buzz) forecast quarterly earnings far below Wall Street estimates, saying it suffered because of foreign exchange rates and would increase investments in advertising, and its shares more than 6 percent.
This would be the first profit miss in more than a year for the company, whose full-year outlook also fell short of analysts’ expectations.
By Nivedita Bhattacharjee
(Reuters) – Royal Caribbean Cruises Ltd (RCL.N: Quote, Profile, Research) (RCL.OL: Quote, Profile, Research), the world’s second-largest cruise operator, warned that earnings in the current quarter could fall by as much as 50 percent as the Costa Concordia disaster off the coast of Italy caused a sharp drop-off in new cruise bookings.