Improved trends in travel retail and gains at U.S. mass retailers, as well as more favorable foreign currency rates, helped Elizabeth Arden Inc. post 54 percent profit growth in the second quarter.
For the period ended Dec. 31, Arden earned $21.1 million, or 73 cents a diluted share, compared to $13.7 million, or 48 cents, in the year-ago quarter. Excluding restructuring and other expenses, the firm said net income was $22.9 million, or 80 cents a diluted share, compared with $17.4 million, or 61 cents a share.
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?"