Estee Lauder sinks on disappointment that CEO Fabrizio Freda didn’t have better news about China

Pedestrians walk past the American multinational skincare, and beauty products brand, Estée Lauder (Estee Lauder) logo seen in Hong Kong.

Budrul Chukrut | Lightrocket | Getty Images

Estee Lauder shares declined Thursday after CEO Fabrizio Freda offered an underwhelming outlook on China at a retail conference earlier in the day.