Shop Talk
Retailers, consumers and prices
Check Out Line: The lipstick recession
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.”
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