The Estée Lauder Companies Inc. has filed an amended Form 8-K/A to provide updates on its ongoing Profit Recovery and Growth Plan (PRGP), initially announced on November 1, 2023. The company has committed to a two-year restructuring program aimed at rebuilding profit margins in fiscal years 2025 and 2026. The restructuring program, which began on February 1, 2024, is expected to incur restructuring and other charges totaling between $1.2 billion and $1.6 billion before tax. This expansion of the PRGP includes initiatives focused on reorganization, process simplification, outsourcing of select services, and evolving the go-to-market footprint. The company anticipates that these initiatives will help improve operating margins and support sustainable sales growth. The restructuring program is expected to be substantially completed by the end of fiscal 2027. The filing also highlights that the company has been unable to determine the estimated amounts to be incurred by major cost type and future cash expenditures related to the restructuring program. The company will continue to disclose significant initiatives associated with the restructuring program as they are approved.

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