By  on January 16, 2009

Shares of Elizabeth Arden Inc. and Estée Lauder Cos. Inc. dove in trading Friday, and dragged down much of the rest of the beauty sector, after both firms lowered their second-quarter earnings expectations due to disappointing holiday sales and shrinking demand.

Arden stock took the worst beating, giving up 38.9 percent to close at $7.06, well below its previous 52-week low of $10.55. Friday’s decline was the largest of all stocks tracked by WWD. Lauder fell 10.1 percent to close the day at $26.11. Other beauty vendors feeling the sting included Inter Parfums Inc., down 10 percent to $5.59; Avon Products Inc., which gave up 7.7 percent to close at $20.25, and Revlon Inc., down 2.8 percent to $6.21.

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