Estée Lauder expects $100 million tariff hit to full-year profitability; stock sinks more than 20%

Tamara Ceaikovski

Estée Lauder said Thursday it's expecting a $100 million hit to its full-year profitability because of tariff impacts. The beauty company's stock tumbled more than 20% in midday trading. The company is currently in the midst of a turnaround plan , dubbed "Beauty Reimagined," that's expected to cost between $1.2 billion and $1.6 billion and is aimed at revitalizing its growth. In its second-quarter earnings report on Thursday, the company said it still expects net workforce reductions of 5,800