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Elizabeth Arden Reports 3.1% Net Sales Gain in Fiscal 2010
Posted: August 12, 2010
For the quarter ended June 30, 2010, Elizabeth Arden, Inc. reported net sales of $228.2 million, an increase of 7.4%, as compared to the fourth quarter of the prior fiscal year. Excluding the favorable impact of foreign currency translation, net sales increased by 7.2%. For the fiscal year, the company reported net sales of $1.1 billion, an increase of 3.1% as compared to the prior year period.
"Just two years ago, we embarked on a global re-engineering of our major business processes and the implementation of a new enterprise software system to improve the efficiencies and scalability of our business," said E. Scott Beattie, chairman, president and CEO, Elizabeth Arden, Inc. "The progress we have made with these initiatives is evident in our results, as we exceeded our targets for our key metrics this year. We expect consistent improvement in these metrics over the next several years as we continue to realize the benefits from our re-engineering initiatives. In addition, we recently re-aligned our global marketing and sales organizations to better leverage the opportunities of our brand portfolio on a global basis and are gaining traction with this initiative as well."
Arden's consolidated statement is available here.