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French Fragrances

This article was originally published in The Rose Sheet

Executive Summary

Net sales rose 43.7% to $309.6 mil. and gross profit was up 28.3% to $88.5 mil. for the year ended Jan. 31. Net income dipped slightly (2.7%) to $12 mil. Net sales in the fourth quarter grew 60.2% to $88.7 mil. from $55.4 mil. in the year-ago period. Gross profit climbed 32.2% to $23.2 mil. and net income was up 16.3% to $3.2 mil. French Fragrances noted gross margins are "expected to improve" in FY 2000 due to improved sales of owned and licensed brands related to the company's January acquisition of Paul Sebastian, which includes the Nautica brand ("The Rose Sheet" Jan. 25, p. 10). Sebastian remains "a promising acquisition going forward," the firm said
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