Bloomberg Estee Lauder Cos’ sales forecast trailed analyst estimates amid continued lockdowns in China and pressure from the strengthening US dollar. The fragrance and skin-care company said that it expects an 8% to 10% drop in sales this quarter, compared with a year ago. Analysts surveyed by Bloomberg expected revenue to be roughly flat in the quarter, which is ...

  Bloomberg Chinese budget retailer Miniso Group Holding Ltd apologised for styling itself as a Japanese designer brand and said it would change its logo, amid a wave of local nationalism fueled by geopolitical tension over Taiwan. The Guangzhou-based company has long promoted itself as Japanese-influenced, with a Japanese chief designer and Japanese characters on its shopping bags and marketing ...

  Bloomberg Kohl’s Corp cited financial stress on its middle-income customers as it cut its profit and sales outlook for the second straight quarter. But soaring inflation is also helping the department-store chain entice wealthier shoppers hunting for bargains. “In our higher-income customers, we’re actually seeing more customers and they’re spending more,” CEO Michelle Gass told analysts. Gass’s comments echoed remarks ...