ESTEE UPGRADE: Citing improved operating results, Standard & Poor’s Ratings Services upgraded its outlook on Estée Lauder Cos. to stable from negative. “Lauder’s product portfolio and geographic diversity are expected to enable the company to continue generating solid cash flow,” said the S&P in a statement. Lauder’s cost-cutting efforts also were applauded, as they are expected to offset marketing costs. The company also maintained its long- and short-term corporate credit ratings.
This story first appeared in the October 18, 2004 issue of WWD. Subscribe Today.