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Elizabeth Arden Sees Sales Increase for Q1 2011
Posted: November 12, 2010
Elizabeth Arden, Inc. announced financial results for its first fiscal quarter ended Sept. 30, 2010. The company reported net sales of $284.8 million, an increase of 7.4%, as compared to the first quarter of the prior fiscal year. Excluding the unfavorable impact of foreign currency translation, net sales increased by 8.1%.
E. Scott Beattie, chairman, president and CEO of Elizabeth Arden, Inc., commented, "Through the first quarter, our business overall performed as we expected. Sales and earnings results were ahead of previous 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%."
Beattie continued, "We are pleased with the performance of our brands and the progress we are making with our global brand marketing initiatives. 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."