Retail

Estee Lauder downgraded by Piper Jaffray

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A sales assistant arranges lipsticks at an Estee Lauder store.

Qilai Shen | Bloomberg | Getty Images

Estee Lauder was downgraded from overweight to neutral by Piper Jaffray, who says teenagers are wearing less makeup and changing their shopping habits.

Cosmetic sales are soft due to a combination of beauty categories like skincare and hair care competing for customers, a shift to single-item, multi-use products and younger shoppers choosing minimal or no make up, analysts said.

The “VSCO girl” trend — which includes a more natural look that requires fewer beauty products — was the go-to look for teenagers heading back to school this year, analysts Erinn Murphy and Eric Johnson said in a…



Source cnbc.com

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