Arden Posts 3Q Results
NEW YORK — Elizabeth Arden Inc. posted third-quarter results Thursday in which both profits and sales were lower than year-ago figures.
For the three months ended March 31, income was $702,000, or 2 cents a diluted share, compared with $5.6 million, or 19 cents, last year. Excluding a debt-extinguishment charge and a charge in connection with the expensing of stock-based compensation, income was $2.3 million, or 8 cents a share. Sales in the quarter fell by 3.5 percent to $191.3 million from $198.3 million.
April Comps Surge
NEW YORK — After a disappointing March, warmer weather and the so-called “Easter shift” – where sales, for the most part, moved into April from March — brought retailers robust traffic levels and higher-than-expected same-store sales. For many retailers, April’s strong sales also brought the ability to lift first-quarter earnings forecasts.
Specialty retailers focusing on the teen category, such as American Eagle Outfitters Inc., Wet Seal Inc., Citi Trends Inc. and Pacific Sunwear of California Inc., benefited the most as a whole from the shift, posting sales increases in the high double digits. American Eagle saw comps rise 19 percent; Wet Seal had a 17 percent increase; Citi Trends posted a 47.5 percent surge and PacSun had a 14 percent rise.
A strong showing was also seen from mass merchants Target Corp. and Wal-Mart’s U.S. division, which had respective 10.4 percent and 6.8 percent increases in April comps.
Moderate department store chains Kohl’s Corp. and Dillard’s Inc. also blew away analysts’ estimates with 13.4 percent and 10 percent comps surges.
Revlon, Despite Sales Gain Suffers 1Q Losses
NEW YORK — Revlon Inc. on Thursday posted a wider first-quarter loss compared with year ago results, although the three months did show an 8.2 percent gain in sales.
For the quarter ended March 31, the loss was $58.2 million, or 15 cents a share, versus a loss of $46.8 million, or 13 cents, in the same year-ago period. Sales grew to $325.5 million from $300.9 million.
The company said it began its rollout during the quarter of Vital Radiance and the restage of Almay. It also consummated its $100 million equity rights offering in the period. The proceeds from the offering were used last month to reduce debt.
“We are pleased with our results in the quarter and the progress we have made with the rollout of Vital Radiance and the re-staged Almay. As we expected, our results in the quarter reflect both the initial benefits to revenue of these two important initiatives, as well as the significant investment we are making behind them,” said Jack Stahl, president and chief executive officer, in a statement.
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