Diamonds and Dogs
At least one retailer is still doing well. Estee Lauder (EL) is jumping 10% to a new 52 week high following better than expected sales and profits. Estee Lauder is trying to change its image to appeal to younger consumers and has started promoting its products through celebrities such as Kylie Jenner, who have a large number of social media followers, and popular YouTubers. It seems to be working. The stock is up over 60% since December.
3-D Systems (DDD) and 3-D printing is no longer in demand. 3-D is down 27% following disappointing earnings as revenue fell 2.2% year over year to $152.9 million. Management remains optimistic that actions taken during the quarter both organizationally and operationally will better position the company for long term success. We'll see. Investors are not so sure. The stock is down 60% since the May highs and back to a two year low.
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