Post-Halloween scaries… shipping delays. Holiday spending is expected to smash records this year, but retailers are sweating to meet demand. Nearly everything is in short supply, and materials and labor costs are surging. Amazon paid the price last quarter when profit plunged by nearly half from last year. The ’Zon expects to face billions in extra costs this quarter to hire 310K seasonal staff, among other costs. Meanwhile, Target, Amazon, Best Buy, and Walmart launched Black Friday sales early to ease delays.
La Mer skincare routine… Now reach for the bronzer. Beauty giant Estee Lauder owns brands like MAC, Clinique, Too Faced, and La Mer. The beauty industry lost $175B last year as masks replaced lip gloss and foundation. But matte is back: For fiscal year 2021, Estée’s sales and profits surpassed pre-pandemic levels. We’ll see whether the beauty boom is still accelerating when Estée unpacks earnings tomorrow.