Elizabeth Arden Q1
This article was originally published in The Rose Sheet
Executive Summary
Net sales advanced 4.5% to $140.8 mil. in the first quarter fueled in part by "an increase in fragrance sales to mass retail customers" and "the launch of the Elizabeth Arden Provocative Woman fragrance," firm announces during May 3 analyst call. In-store promotional costs to support the new fragrance partially offset sales, the company adds. Arden's mass market business was up 11.3%. Cosmetics counters in department stores grew 19%, firm notes. Arden experienced a net loss of $13.7 mil. versus $16.7 mil. in the year-ago period. Firm also announces it will shift its fiscal year end from Jan. 31 to June 30, a move that will allow Arden to "provide more predictable earnings between fiscal quarters," according to the company. As a result, the firm will report financial results in August for the five-month period beginning Feb. 1, 2004 and ending June 30, 2004 as a transition period. Arden's 2005 fiscal year will begin July 1, 2004 and end June 30, 2005...