In Brief: Erox
This article was originally published in The Rose Sheet
Executive Summary
Erox: Expanding distribution of its Realm pheromone fragrances into perfumery chains and select Sears doors with "upscale" Circle of Beauty stores, CEO William Horgan told securities analysts in a conference call July 29. Realm is also sold at about 30 other retailers, including Bloomingdale's, Foley's, Lord & Taylor and Masson Blauche. Erox also has entered into a partnership with electronic retailer QVC to market ancillary Realm products. The distribution strategy follows the firm's announcement of its second quarter sales and earnings. For the three months, sales were down 25.8% to $3.8 mil. The company reported a net loss of $3 mil. compared to net income of $99,603 in the year-ago period. Horgan attributed the decline to returns from department stores, which are attempting to limit their inventory. Selling, general and administrative for the period were 150% of sales as opposed to 68.4% in the second quarter of 1996, due mostly to the launch program implemented for the company's newest pheromone fragrance, Inner Realm...