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Skin Care; Fragrance Bolster Arden's Q1 2011 Results
Posted: November 5, 2010
For the quarter ended September 30, 2010, Elizabeth Arden, Inc. reported net sales of $284.8 million, an increase of 7.4%, as compared to the first quarter of the previous fiscal year. Excluding the unfavorable impact of foreign currency translation, net sales increased by 8.1%.
"Through the first quarter, our business overall performed as we expected," said E. Scott Beattie, chairman, president and CEO, Elizabeth Arden, Inc. "Sales and earnings results were ahead of prior guidance, driven primarily by continued strong momentum in our international business. In constant currencies, net sales of our international business increased by 14%, with sales in Europe and our travel retail and distributor markets increasing by 14% and 31%, respectfully. Our net sales in North America rose by 6%. Sales of Elizabeth Arden branded skin care products rose by 12% in the first quarter, and sales of our fragrance business grew by 8.0% overall and 17% in Europe. As we head into the holiday period, we are encouraged and expect our key brands and launches to perform well."