Earnings In Brief
This article was originally published in The Rose Sheet
Executive Summary
Alberto Culver: Firm attributes impressive first quarter of fiscal 2008 in part to double-digit sales growth for TRESemmé in all markets, including new regions Mexico, Latin America and South Africa. Net sales for the first quarter came in at $400.7 mil., up 14.1% compared with the prior-year period, according to Jan. 28 statement. Nexxus also posted solid S&E growth; Alberto-Culver will enhance the Nexxus marketing and product mix in the U.S. and consider launching the brand in new markets, President and CEO V. James Marino said during Jan. 28 earnings call. Alberto VO5 sales increased in the low single digits overseas and were flat in the U.S., with growth in company's opening price point business offset by discontinued products, exec said. St. Ives experienced low single-digit sales growth due to uptick in some international markets and the effect of foreign exchange. Firm will launch a new skin-care line, St. Ives Elements, in March. Pre-tax income from continuing operations reached $43.5 mil., versus a loss of $1.3 mil. in the same period a year ago. Company notes that it incurred costs of $4.8 mil. related to reorganization following its separation from Sally Beauty Holdings and the Oct. 29, 2007 closure of its manufacturing facility in Toronto, Canada (1"The Rose Sheet" Jan. 21, 2008, p. 7)...
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Inter Parfums fiscal 2007
Firm records net sales of $389.6 mil. for 2007, up 21% from a year ago. Results reflect strong sales of Burberry fragrances, which brought in $210 mil. for the year, according to March 10 release. Sales in Europe totaled $330.8 mil., representing 85% of consolidated sales overall. In North America, sales rose 15% to $58.8 mil. due to Inter Parfums' specialty retail business with Gap, Banana Republic and New York & Company. Net income for the year was $23.8 mil. Inter Parfums is preparing busy launch schedule for 2008, including new scents for Burberry, Roxy, Quicksilver, Van Cleef & Arpels and S.T. Dupont. Rumeur 2 Rose is "being readied" for introduction under firm's Lanvin Brand, and limited-edition Paul Smith men's and women's scents also are on the way, according to Chairman of the Board and CEO Jean Madar. "As did many of our peers, we entered the fourth quarter of 2007 with much trepidation, and looked to contain costs and brace for a turbulent holiday season. With fourth quarter sales far exceeding our expectations, fourth quarter profits came in considerably better than anticipated," Madar says. Company announced fourth-quarter results in February (1"The Rose Sheet" Feb. 4, 2008, p. 8)...
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