Donna Karan to Restructure Beauty Business

Donna Karan International Inc. said it plans to take a fourth-quarter pretax charge of about $30 million and that it has a cosmetics licensing agreement with Estee Lauder Cos. Donna Karan said that without the restructuring, its beauty business would lose $7 million next year. The agreement, whose terms were not disclosed, gives Lauder exclusive rights to manufacture, market, sell and distribute all Donna Karan New York fragrances, cosmetics and beauty-related accessories. In New York Stock Exchange trading, shares of New York-based Estee Lauder closed up 19 cents at $46.25, and shares of New York-based Donna Karan closed down 50 at $15.63.