By  on February 6, 2009

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.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus