Sep 08, 2020 / 07:20PM GMT
Lauren Rae Lieberman - Barclays Bank PLC, Research Division - MD & Senior Research Analyst
Okay. So next up this afternoon is Estée Lauder. With the prestige beauty industry facing unprecedented challenges over the course of the past 6 months, Estée Lauder clearly is still placing its sail on the wind and capitalizing on strong growth trends in skin care, China and online.
We're pleased to welcome back Tracey Travis, Estée Lauder's Executive Vice President and CFO, who will do a Q&A session with me. So with that, we'll get right into it.
Questions and Answers:
Lauren Rae Lieberman - Barclays Bank PLC, Research Division - MD & Senior Research AnalystTracey, I was hoping we could start by talking a little bit about how you see fiscal '21 unfolding. Without giving full year guidance, you did give some pretty specific commentary on your year-end call last month. So first thing I wanted to just talk a little bit about was the comment you made on July sales being off but then the guidance for first quarter organic still being down 14%
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