NEW YORK — Standard & Poor’s Ratings Services downgraded its outlook on The Estée Lauder Cos. Inc. to negative from stable Tuesday, but did affirm two of the company’s credit ratings.
S&P said the outlook revision was based on Lauder’s expected “weakened credit protection measures (adjusted for operating leases) in the intermediate term, which will be below S&P’s established guidelines” at the stable rating level.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)