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ENTERTAINMENT
March 20, 2008 | From staff and wire reports
Cosmetics executive Leonard A. Lauder celebrated his 75th birthday Wednesday by giving $131 million to the Whitney Museum of American Art, the largest cash donation in the New York institution's history. Lauder is the chairman of the 77-year-old museum and of the Estee Lauder Cos. The museum said that $125 million of Lauder's gift would go to its endowment, with the remainder to be used for operating expenses. Lauder made the donation through the American Contemporary Art Foundation, which previously gave the Whitney artworks by Jackson Pollock, Jasper Johns, Robert Rauschenberg, Mark Rothko and Andy Warhol.
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CALIFORNIA | LOCAL
November 14, 2011 | Times Wire Reports
Evelyn Lauder, 75, the daughter-in-law of cosmetics magnate Estee Lauder who helped create the pink ribbon symbol for breast cancer awareness, died Saturday at her Manhattan home of complications from nongenetic ovarian cancer, said Estee Lauder Cos. spokeswoman Alexandra Trower. She had been diagnosed with ovarian cancer in 2007, years after battling breast cancer. Lauder worked for more than 50 years for the beauty products giant, holding many positions and helping to develop its lines of skin care, makeup and fragrance.
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BUSINESS
April 17, 2002 | Reuters
Estee Lauder Cos. said it adjusted earnings for previously reported fiscal 2001 and 2002 quarterly results and full fiscal-year results ended 1998 through 2001, to reflect an accounting rule on the treatment of sales promotions. The adjustments do not change the New York-based company's operating income, net earnings or earnings per common share, Estee Lauder said. The reclassified statements of earnings reflect new accounting standards. Estee Lauder shares were down $1.11, or 3%, at $36.
BUSINESS
February 27, 2011 | By Andrew Leckey
Question: Can the stock of Estee Lauder Cos. keep rising? Answer: This diversified skin-care, makeup and fragrance company has some attractive opportunities. Known for such brands as Clinique, Aveda and American Beauty as well as its Estee Lauder line, the company recently increased its short-term profit forecast, citing the return of luxury consumers to U.S. stores and significant gains in overseas markets such as China. In the fiscal year that ended June 30, Estee Lauder's earnings more than doubled to $478 million as sales rose 6.4% to $7.8 billion.
BUSINESS
July 28, 2000
* Estee Lauder Cos. said its Gloss.com unit has suspended sales for about six months while the Internet site is revamped to focus on a smaller number of premium-priced products. The cosmetics company said visitors to the site will be referred to its other sites, which include those for its Clinique and Bobbi Brown brands. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at: http://www.latimes.com/bizstaff.
BUSINESS
February 6, 2009 | Times Wire Reports
Estee Lauder Cos., the maker of Clinique and Bobbi Brown cosmetics, said it would cut 2,000 jobs as declines in makeup and perfume sales reduced second-quarter profit. The job cuts, about 6% of the workforce, will occur over the next two years, the New York company said. That and other measures, including inventory reduction and a freeze on hiring and merit raises, will reduce expenses as much as $550 million over the next four years, Estee Lauder said.
BUSINESS
February 28, 1998 | Diane Seo
Estee Lauder Cos. acquired the remaining equity interest of Make-Up Art Cosmetics, a growing Toronto-based beauty brand that has been widely embraced by the urban chic. Although the deal had been expected, it occurred earlier than some analysts had predicted. The New York-based Estee Lauder had acquired 51% of MAC in 1994, then increased its ownership to 70% in March 1997. Terms were not disclosed. MAC founder Frank Toskan, who will remain head of MAC, was unavailable for comment.
BUSINESS
January 7, 2004
* Paul Allen, the billionaire co-founder of Microsoft Corp., sold 40% of his stake in RCN Corp. for $2 million after investing $1.65 billion in the cable television, telephone and Internet provider four years ago. * Park Place Entertainment Corp. officially became Caesars Entertainment Inc. The company has 29 casino resorts in five countries. * Hyundai Motor America announced record sales of 34,716 vehicles for the month of December, up 36.4% from a year ago.
BUSINESS
May 18, 2010 | By Andrea Chang, Los Angeles Times
In a move to attract new and younger customers, cosmetics behemoth Estee Lauder Cos. said Monday that it had agreed to acquire Los Angeles makeup brand Smashbox Beauty Cosmetics Inc. Analysts said privately held Smashbox would help give Estee Lauder — whose brands include Clinique, Aveda and MAC — a more youthful appearance. The New York cosmetics company would also gain an expanded presence at specialty retail channels such as Sephora, Ulta and QVC, where much of Smashbox's merchandise is sold.
BUSINESS
January 11, 2009 | times wire reports
Color additives made from insects will have to be disclosed on food and cosmetics labels by 2011 because of the possibility of allergic reactions, under a new rule from the Food and Drug Administration. The red dyes derived from carmine and cochineal extract -- from the cochineal insect -- must be named specifically instead of described generically as "artificial color," as they are now, the FDA said. The labels won't have to disclose that the ingredients come from bugs. The rule is a response to reports of allergic reactions, some life-threatening, to food and cosmetics containing the ingredients, according to the FDA. The ingredients are used in some makeup by Estee Lauder Cos., which said it would comply with the rule, and in some Dannon yogurts, whose containers already list them.
ENTERTAINMENT
June 16, 2010 | James Rainey
At Bar Marmont late Monday and into Tuesday's wee hours, the Chivas flowed, tuxedo ties came loose and conversation burbled. Executives for some of the world's top luxury brands made the scene, along with guests of … what's that? … a newspaper? Yes, a newspaper — or, more accurately, a multi-platform journalistic enterprise — brought investors, marketers, entrepreneurs and other luminaries together this week to rub elbows and consider subjects such as overcoming extravagance guilt and "the narrative behind the luxury purchase."
BUSINESS
May 18, 2010 | By Andrea Chang, Los Angeles Times
In a move to attract new and younger customers, cosmetics behemoth Estee Lauder Cos. said Monday that it had agreed to acquire Los Angeles makeup brand Smashbox Beauty Cosmetics Inc. Analysts said privately held Smashbox would help give Estee Lauder — whose brands include Clinique, Aveda and MAC — a more youthful appearance. The New York cosmetics company would also gain an expanded presence at specialty retail channels such as Sephora, Ulta and QVC, where much of Smashbox's merchandise is sold.
BUSINESS
February 6, 2009 | Times Wire Reports
Estee Lauder Cos., the maker of Clinique and Bobbi Brown cosmetics, said it would cut 2,000 jobs as declines in makeup and perfume sales reduced second-quarter profit. The job cuts, about 6% of the workforce, will occur over the next two years, the New York company said. That and other measures, including inventory reduction and a freeze on hiring and merit raises, will reduce expenses as much as $550 million over the next four years, Estee Lauder said.
BUSINESS
January 11, 2009 | times wire reports
Color additives made from insects will have to be disclosed on food and cosmetics labels by 2011 because of the possibility of allergic reactions, under a new rule from the Food and Drug Administration. The red dyes derived from carmine and cochineal extract -- from the cochineal insect -- must be named specifically instead of described generically as "artificial color," as they are now, the FDA said. The labels won't have to disclose that the ingredients come from bugs. The rule is a response to reports of allergic reactions, some life-threatening, to food and cosmetics containing the ingredients, according to the FDA. The ingredients are used in some makeup by Estee Lauder Cos., which said it would comply with the rule, and in some Dannon yogurts, whose containers already list them.
ENTERTAINMENT
March 20, 2008 | From staff and wire reports
Cosmetics executive Leonard A. Lauder celebrated his 75th birthday Wednesday by giving $131 million to the Whitney Museum of American Art, the largest cash donation in the New York institution's history. Lauder is the chairman of the 77-year-old museum and of the Estee Lauder Cos. The museum said that $125 million of Lauder's gift would go to its endowment, with the remainder to be used for operating expenses. Lauder made the donation through the American Contemporary Art Foundation, which previously gave the Whitney artworks by Jackson Pollock, Jasper Johns, Robert Rauschenberg, Mark Rothko and Andy Warhol.
BUSINESS
January 7, 2004
* Paul Allen, the billionaire co-founder of Microsoft Corp., sold 40% of his stake in RCN Corp. for $2 million after investing $1.65 billion in the cable television, telephone and Internet provider four years ago. * Park Place Entertainment Corp. officially became Caesars Entertainment Inc. The company has 29 casino resorts in five countries. * Hyundai Motor America announced record sales of 34,716 vehicles for the month of December, up 36.4% from a year ago.
BUSINESS
April 13, 2000 | Bloomberg News
Estee Lauder Cos. said it will set up a Web site to offer all of its makeup brands and agreed to buy online beauty products retailer Gloss.com for an undisclosed amount of cash to hasten its move to the Internet. The maker of Clinique, Aveda and Estee Lauder cosmetics expects the site to be running by early next year. Existing sites for Estee Lauder brands Clinique, Origins and Bobbi Brown essentials products will have links to http://www.esteelauder.com.
CALIFORNIA | LOCAL
November 14, 2011 | Times Wire Reports
Evelyn Lauder, 75, the daughter-in-law of cosmetics magnate Estee Lauder who helped create the pink ribbon symbol for breast cancer awareness, died Saturday at her Manhattan home of complications from nongenetic ovarian cancer, said Estee Lauder Cos. spokeswoman Alexandra Trower. She had been diagnosed with ovarian cancer in 2007, years after battling breast cancer. Lauder worked for more than 50 years for the beauty products giant, holding many positions and helping to develop its lines of skin care, makeup and fragrance.
BUSINESS
April 17, 2002 | Reuters
Estee Lauder Cos. said it adjusted earnings for previously reported fiscal 2001 and 2002 quarterly results and full fiscal-year results ended 1998 through 2001, to reflect an accounting rule on the treatment of sales promotions. The adjustments do not change the New York-based company's operating income, net earnings or earnings per common share, Estee Lauder said. The reclassified statements of earnings reflect new accounting standards. Estee Lauder shares were down $1.11, or 3%, at $36.
BUSINESS
July 28, 2000
* Estee Lauder Cos. said its Gloss.com unit has suspended sales for about six months while the Internet site is revamped to focus on a smaller number of premium-priced products. The cosmetics company said visitors to the site will be referred to its other sites, which include those for its Clinique and Bobbi Brown brands. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at: http://www.latimes.com/bizstaff.
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