For the third fiscal quarter ended March 31, 2009, Elizabeth Arden, Inc. reported net sales of $203.5 million, a decrease of 3.4%, as compared to the third quarter of the prior fiscal year.
"Our North American fragrance business is tracking as we had anticipated," said E. Scott Beattie, chairman, president and CEO, Elizabeth Arden, Inc. "We are seeing modest improvement in retail sales performance, and are continuing to build market share. This, however, is being offset by weak conditions in our travel retail and distributor markets, reflecting declining passenger traffic, retailer de-stocking and the impact of credit constraints and currency volatility on our distributors, which is expected to continue.
"The most recent fragrance launch, Pretty, has exceeded our expectations thus far, ranking as the number one fragrance launch in U.S. department stores in 2009 through March, and we anticipate this fragrance will help drive global growth of the Elizabeth Arden brand."
The full report is available here.