Estée Lauder Sees Annual Sales Below Estimates on China Weakness

Estée Lauder Cos. is forecasting annual revenue growth below analysts’ expectations, a sign that the cosmetics company’s long-awaited recovery has hit another roadblock.

The company said Monday in a statement that it sees revenue in its current fiscal year between a 1% decrease and a 2% increase. Analysts surveyed by Bloomberg were forecasting a 5.6% increase to $16.5 billion. The cosmetics giant cited continued declines in prestige beauty sales in China, reflecting “persistent weak sentiment among Chinese consumers.”