Shop Talk

Retailers, consumers and prices

Check Out Line: The lipstick recession


FASHION/Check out the dismal economy trumping consumers’ desire (or ability) to put on a pretty face.

Both Elizabeth Arden and Estée Lauder  warned of lower-than-expected second-quarter results in the wake of a disappointing holiday sales season.

“The unprecedented global economic crisis produced one of the worst holiday seasons in decades, with many U.S. retailers experiencing double-digit sales declines in nearly all categories,” said William P. Lauder, Estee Lauder’s chief executive officer, in a statement.

“Our business was no exception to the downturn in consumer spending and our second quarter results will come in lower than we expected.”