Estee Lauder Is Well Positioned Post-Pandemic
Like many beauty companies, Estee Lauder (NYSE: EL) suffered from the impact of coronavirus. In the company's fiscal fourth-quarter, which ended June 30, revenue fell 31% as stores carrying its products temporarily closed due to mandated shutdowns.
Makeup sales have been hurt as large numbers of people began working from home and social distancing due to COVID-19. In a survey by research group NPD, 71% of women in the U.S. who wear makeup said they do so less often because of COVID-driven changes. This has been a major challenge for beauty companies.
However, Estee Lauder is better positioned among its beauty company peers to recover after the COVID-19 pandemic subsides. Here's why this consumer discretionary company will survive the pandemic and is a good long-term investment.
Source Fool.com
