Estée Lauder shares surged 7% on Friday after the beauty giant raised its annual profit forecast and announced an additional 3,000 job cuts, bringing its total restructuring target to as many as 10,000 roles — roughly 17.5% of its global workforce. The owner of Clinique and M.A.C., currently in merger talks with fragrance house Puig, aims to save up to $1.2 billion annually by shifting away from department stores toward faster-growing digital and specialty channels like Sephora, Amazon, and TikTok Shop. Under CEO Stéphane de La Faverie’s “Beauty Reimagined” strategy, quarterly sales reached $3.71 billion, beating estimates despite a 1% hit from the Iran war, while full-year adjusted profit is now projected at $2.35 to $2.45 per share, signaling confidence in its premium pivot and supply chain overhaul.

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