Estée Lauder's Financial Reporting Criticized, Profits Decline, Elf Beauty Faces Scrutiny Over Cult-Linked Partnership

Estée Lauder's financial reporting has been criticized for various issues including hiding Travel Retail sales in EMEA, lumping US and LATAM sales into Americas, and not showing G&A, R&D, and S&M expenses separately. The company's profits have significantly declined, with a projected 11% decrease in sales and a 69% decrease in Non-GAAP EPS for FY24 compared to FY22. Additionally, Elf Beauty, a cosmetics marketer, has faced scrutiny due to its partnership with a firm linked to the NXIVM cult, raising concerns about its brand equity and messaging to women.