Estee Lauder borrows $1.3 billion from line of credit [MarketWatch]
Estee Lauder Companies, Inc. (The) (EL)
Last estee lauder companies, inc. (the) earnings: 5/1 06:45 am
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Source: MarketWatch
Estee Lauder Cos. said Tuesday that it has borrowed $1.3 billion from its line of credit. The beauty company has a total of $1.5 billion in its revolving credit facility. And it had $200 million in commercial paper outstanding as of March 31. Starting in early February, Estee Lauder suspended its share repurchase program. The company says stores have begun to reopen in Asia Pacific and online sales have accelerated, but stores are closed in the Americas, Europe, Africa and the Middle East. A sharp decline in travel has also depressed sales. There has also been an impact on suppliers including manufacturers and logistics providers, though a majority of facilities continue to manufacture and distribute merchandise. "There is no certainty that measures the company takes will be sufficient to mitigate the risks posed by Covid-19," the statement said. Estee Lauder is up 2.8% in premarket trading and down 1.8% over the past year. The S&P 500 index has fallen 8% for the last 12 months.
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EL
Earnings
- 10/31/24 - Beat
EL
Sec Filings
- 11/20/24 - Form 4
- 11/19/24 - Form 4
- 11/18/24 - Form S-8
- EL's page on the SEC website