Some industry executives speculated that the department store beauty business would finish the year down by as much as 3 percent to 4 percent. Another observer noted, “anywhere from minus two to plus three would be an outstanding result.”
John Demsey, a group president of the Estée Lauder Cos. Inc., who oversees the Lauder brand as well as MAC Cosmetics, observed, “So far it has been a tumultuous ride.”
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