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Arden forecast

This article was originally published in The Rose Sheet

Executive Summary

Elizabeth Arden predicts Q1 sales decline due to impact of Severe Acute Respiratory Syndrome, which adversely effected firm's sales in travel retail and certain international markets, fragrance distributor announces May 19. Sales projected in $133 mil.-$135 mil. range in the period compared to $140.3 mil. a year ago. Arden also expects to report net loss of $.92-$.94 per share, firm adds. Initial guidance for the year assumed some degree of caution due to the challenging retail environment, Arden says, noting it still expects to achieve net sales guidance of 5%-7% and EPS growth of 20%-25% for the full fiscal year. However, "if the SARS epidemic and the softness experienced with U.S. retailers continue to create an adverse retail environment for the remainder of the year," results likely will be negatively impacted, Arden cautions...

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