Sales of Elizabeth Arden Inc.’s fragrances suffered in the second quarter, along with the company’s profits, as department stores stocked more lower-margin gift sets for the holiday season and mass stores reduced replenishment.
For the second quarter ended Dec. 31, Arden’s net income dropped 59.6 percent to $13.7 million, or 48 cents a diluted share, from $33.8 million, or $1.15, in the year-ago period. Excluding expenses and noncash charges related to the Liz Claiborne license agreement and restructuring expenses, earnings declined 48.6 percent to $17.38 million, or 61 cents a diluted share. Sales for the quarter were $370 million, down 12.4 percent, or 8.7 percent, excluding the unfavorable impact of foreign currency, compared to last year.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"