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Financial Briefs from Global Beauty Companies
Posted: August 19, 2014
The Estée Lauder Companies posted its financial results for its fourth quarter and fiscal year ended June 30, 2014. For the year, the company achieved record net sales of $10.97 billion, an 8% increase compared with $10.18 billion in the prior year. Excluding the impact of foreign currency translation, net sales also increased 8%. Skin care and makeup contributed strongly to these results, with net sales of $4.7 billion and $4.2 billion, respectively, for the company’s full year 2014. Additional information on these results from The Estee Lauder Companies can be found here.
Elizabeth Arden, Inc. announced financial results for its fourth fiscal quarter and year ended June 30, 2014. Net sales for the fiscal year ended June 30, 2014, were $1.164 billion, a decrease of 13.4% from the prior year, or 12.8% excluding the impact of foreign currency rates, and net sales for the three months ended June 30, 2014, were $191.7 million, a decrease of 28.4%, as compared to the prior year. While the company had expected weaker sales comparisons due to the lower level of fragrance launch activity in fiscal 2014 versus fiscal 2013, the decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift fragrances, was steeper than anticipated. The company is in the midst of a restructuring plan, and it also announced the investment of funds affiliated with Rhône Capital. Additional details on this Elizabeth Arden financial report are available here.
Reporting its interim financial results for the time period January 1-June 30, 2014, Oriflame saw local currency sales decreased by 1%, and Euro sales decreased by 14% to €310.4 million for the three months ended June 30, 2014. For the six months ended June 30, 2014, local currency sales decreased by 2%, and Euro sales decreased by 14% to €637.6 million. Further details on these results from Oriflame are available here.