Arden Q3
This article was originally published in The Rose Sheet
Executive Summary
Launch of Elizabeth Arden Pretty and mineral makeup is providing momentum for the Arden brand on a global basis, Elizabeth Arden says May 7. "We anticipate [Pretty] will help drive global growth of the Elizabeth Arden brand," says E. Scott Beattie, chairman, president and CEO of Arden. Firm's fragrance business in North America - which comprises about 60% to 65% of net sales - was up 5% in Q3. Firm looks forward to debut of Juicy Couture scent called Couture Couture in the fall, as well as launches from Usher and Mariah Carey. Net sales were $203.5 mil. in fiscal 2009 third quarter, down 3.4% versus the prior-year period. Weak conditions in travel retail, distributor markets and retailer de-stocking are impacting sales performance and market share, Beattie says. Firm projects that fiscal-year sales will decline 6% to 6.5%, or 2% to 2.5% excluding foreign currency translation. Earnings per share of $0.38 to $0.50 are expected
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