Elizabeth Arden Inc.’s first-quarter profits fell sharply as the company focused on reshaping its namesake brand.
Net income declined 76.3 percent to $2.2 million, or 7 cents a diluted share, from $9.2 million, or 31 cents, a year earlier. Adjusting for costs to reposition the Elizabeth Arden brand as well as acquisition costs, income rose to 44 cents a diluted share, 2 cents better than the 42 cents analysts projected.
“Although early in the rollout, we are experiencing strong retail sales performance at the flagship doors with our revitalized Elizabeth Arden products,” said E. Scott Beattie, chairman, president and chief executive officer. “As we look forward to the holiday season, we believe that our significant innovation along with the continued rollout of Elizabeth Arden branded products has us well positioned to continue our positive performance.”
Arden confirmed its 2013 guidance for adjusted earnings per share of $2.55 to $2.70. Shares of the firm slipped 2 cents to $47.49.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
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Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
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