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Benzinga

Business

Shivani Kumaresan

Estee Lauder To Close All Stores In Russia - Report

Russia Estee Lauder EL NYSE Ukraine Wall Street Journal

Estee Lauder Companies Inc (NYSE:EL) is suspending all its commercial activities in Russia following the Ukraine crisis, the Wall Street Journal reported.
The company will close all stores it owns in Russia and stop shipping products to retailers in the country.
Estee Lauder gets roughly 2.7% of its revenue from Russia, and the region is one of the company’s strongest performers, the report noted.
Price Action: EL shares closed lower by 7.64% at $263.87 on Monday.

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