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Benzinga
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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