As you requested in our last meeting at the Estee Lauder Company at the General Motors building in New York City months ago, I’ve provided you with a detailed email which dives headfirst into some of the challenges I’ve witnessed the organization go through in recent months as a communications specialist. Areas of concern include but are not limited to:
- 1. (34.43%) past year stock price drop
- 2. 11% decline in net sales for Q1 2023
- 3. Covid related restrictions in China affecting product supply chain
- 4. Bidding War for Tom Ford
- 5. Chris Reid New VP for General Manager of Commercial in Europe
First off, the past couple of years have put our massive, publicly traded corporation in a mode of recovery amidst the disastrous issues stemming from China affecting the world globally. As mentioned above there are five primary challenges our company is currently facing as we transition into the first fiscal quarter of 2023.
Our Stock Dropped
As of right now, on this particular date, our current stock price reveals we’re down -119.85 (34.43%) within the past year. Our stock price has dropped and our stock could be a lot better. Recovering from the Covid-19 pandemic and a recent 2022 fiscal third-quarter earnings release sent our stock down. However, we’re in the process of trying to buy Tom Ford and projected sales for Q1 of 2023 look promising.
Q1 2023 Net Sales Decline
Due to covid-related restrictions in Hainan and mainland China, the retail landscape is still being affected thus driving sales down in malls and other places of commerce.
ITS A MEMO
MY PART IS NUMBER 4 . “Bidding War for Tom Ford”