This article was originally published in The Rose Sheet
Firm revisits its fiscal 2009 guidance for the first half and full year; sales are now expected to increase by 1% to 3.5% over first six months and 6.5% to 8.5% for the full year, Elizabeth Arden notes Nov. 6 in its first-quarter earnings release. Adjustment is due to challenging consumer and retail environment and the impact of foreign currency translations, firm says. Sales for the first quarter totaled $2.84.2 mil., up 4.6% versus the prior year. Sales were driven by new launches including Juicy Couture, Usher, Mariah Carey and Rocawear 9IX fragrances. Firm also introduced Prevage Body in the first quarter, which led to a 27% increase in sales for the Prevage anti-aging skin care franchise, according to Chairman, President and CEO E. Scott Beattie. Liz Claiborne brands also contributed to revenue gains (1"The Rose Sheet" June 2, 2008, In Brief)
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Elizabeth Arden and Liz Claiborne strike exclusive, long-term global licensing agreement for the manufacture, distribution and marketing of Liz Claiborne fragrance brands, including Juicy Couture, Lucky Brand and Usher, firms announce May 28. Pact will award Arden improved market share and productivity in its North American fragrance business, efficiencies particularly within its fragrance supply chain and additional international business, among other benefits, according to E. Scott Beattie, chairman, president and CEO. Liz Claiborne CEO William L. McComb states: "For us to maximize profitability in [fragrance] going forward ... we would have to make significant changes to how [our business] is operated." With new licensing deal, Liz Claiborne "can continue to successfully develop and market brand-enhancing fragrances in a more capital-efficient manner, leveraging our strength in brand building with Arden's expertise in developing and growing fragrance businesses," McComb says. Liz Claiborne expects arrangement to positively impact 2008 cash flows; Arden says deal will contribute to sales and earnings growth in fiscal 2009...
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