Estee Lauder Adjusts Earnings for Promos

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 $36.21 in trading on the NYSE.