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Arden Reports Improved Gross Margins in Fiscal 2009
Posted: August 14, 2009
For the year ended June 30, 2009, Elizabeth Arden, Inc. reported net sales of $1.07 billion, a decrease of 6.2%, or 3.0% excluding the unfavorable impact of foreign currency translation, as compared to the prior year period. For the fourth fiscal quarter ended June 30, 2009, the company reported net sales of $212.6 million, a decrease of 10%, as compared to the fourth quarter of the prior fiscal year. Excluding the unfavorable impact of foreign currency translation, net sales decreased by 5.8%. For the fourth fiscal quarter ended June 30, 2009, the net loss per diluted share was $0.13 as compared to a net loss per diluted share of $0.38 for the prior year period.
"We finished fiscal 2009 as we had anticipated, and while it was a challenging year, we accomplished a great deal," said E. Scott Beattie, chairman, president and CEO, Elizabeth Arden, Inc. "Our Global Efficiency Re-engineering initiative allowed us to improve gross margins, reduce inventories by $90 million year over year and generate cash flow from operations of $37 million. Our brand innovation also experienced global success—including the recently launched Elizabeth Arden fragrance, Pretty Elizabeth Arden, which was the number two woman's fragrance launch through June 2009 in the U.S. and is doing well internationally, and Viva la Juicy, which was the number one launch last fall in the U.S. and contributed to the continued global expansion and success of the Juicy Couture fragrance franchise."