Greg Smith

The perpetrators of these acts have to go to jail.

Yeah, I'm told it's actually pronounced pooch, but there you go.

We'll debate over that one.

But yeah, Estee Lauder.

Yeah, yeah, and that's sort of what happened to the deal, really.

But, yeah, Estee Lauder shares, they jumped 12% after the merger of the Spanish Beauty and Fashion Group fell through.

Poot shares, yeah, they were down the dumps.

They were down 13%.

So, yeah, the type would have created a $40 billion deficit.

Beauty and Luxury Powerhouse, but investors are looking at it as a lucky escape for Estee.

The combination looked a bit awkward.

They're into skincare and cosmetics, but the other company is more into fashion and fragrances.

So Estee, what it's doing is now doubling down on its own turnaround strategy, premium launches, younger consumers, plenty of TikTok ads, Mike, going on to Amazon in a big way as well, and also cutting thousands of jobs.

So they're still under pressure.

They reckon tariffs could knock around about $100 million off profits this year, and they've got a

$1.6 billion restructuring program to sort.

So yeah, big bounce on Friday.

They're still down around about 15% this year.

Ralph Lauren, meanwhile, they delivered a strong result.

They saw revenues up 17%, $2 billion.