Jun 18, 2019

For Estée Lauder, airports are the new malls

An Estée Lauder cosmetics counter at Bloomingdale's. Photo: Mario Ruiz/The LIFE Images Collection via Getty Images

As dollars have grown scarce at many traditional retail outlets, cosmetics powerhouse Estée Lauder has found an interesting way to make its money. For the first time last year, it generated more revenue at airports globally than at U.S. department stores, data shows.

What's happening: The airport is becoming a booming shopping destination and Estée Lauder, home to brands like Clinique, MAC and Tom Ford Beauty, has been taking full advantage.

  • Duty-free and other airport spending binges, especially by Chinese and other travelers from emerging markets like Russia, India and Brazil, have helped jolt the stock up more than 35% year-to-date.

The big picture: Globally, sales from duty-free shops and other travel-retail channels rose almost 10% to a record $76 billion in 2018, according to research firm the Data Circle.

  • "Travel retail consists of airport shops, in-flight purchases, duty-free stores neighboring airports, cruises and online orders picked up at the airport. All stores located beyond airport customs are duty-free," WSJ's Jaewon Kang and Sharon Terlep report.

Go deeper: Axios' Deep Dive on how vanity will save retail

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 1,094,068 — Total deaths: 58,773 — Total recoveries: 225,519Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 273,880 — Total deaths: 7,077 — Total recoveries: 9,521Map.
  3. Public health latest: The CDC is recommending Americans wear face coverings in public to help stop the spread of the coronavirus.
  4. 2020 latest: Wisconsin's governor called for a last-minute primary election delay. "I think a lot of people cheat with mail-in voting," President Trump said on the 2020 election, as more states hold primaries by mail.
  5. Business updates: America's small business bailout is off to a bad start. The DOT is urging airlines to refund passengers due to canceled or rescheduled flights, but won't take action against airlines that provide vouchers or credits.
  6. Oil latest: The amount of gas American drivers are consuming dropped to levels not seen in more than 25 years, government data shows. Trump is calling on the Energy Department to find more places to store oil.
  7. Tech updates: Twitter will allow ads containing references to the coronavirus under certain use cases.
  8. U.S.S. Theodore Roosevelt: Senators call for independent investigation into firing of Navy captain.
  9. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Government will cover uninsured patients' coronavirus treatment

Azar at Friday's briefing. Photo: Win McNamee/Getty Images

The federal government will cover the costs of coronavirus treatment for the uninsured, Health and Human Services Secretary Alex Azar said at a White House briefing Friday.

How it works: The money will come from a $100 billion pot set aside for the health care industry in the most recent stimulus bill. Providers will be paid the same rates they get for treating Medicare patients, and as a condition of those payments, they won't be allowed to bill patients for care that isn't covered.

More states issue stay-at-home orders as coronavirus crisis escalates

Data: Axios reporting; Map: Danielle Alberti/Axios

Alabama Gov. Kay Ivey issued a stay-at-home order on Friday as the novel coronavirus pandemic persists. The order goes into effect Saturday at 5 p.m. and will remain in place through April 30. Missouri Gov. Mike Parson also issued a statewide social distancing order on Friday.

The big picture: In a matter of weeks, the number of states that issued orders nearly quadrupled, affecting almost 300 million Americans.

Go deeperArrowUpdated 3 hours ago - Health