Elizabeth Arden, Inc. announced financial results for its first fiscal quarter ended Sept. 30, 2011. The company reported net sales of $303.5 million, an increase of 6.6%, as compared to the first quarter of the prior fiscal year. Excluding the favorable impact of foreign currency translation, net sales increased by 3.2%. Net sales of the company's international business increased by 16.6%, or by 7.5% at constant rates, driven by growth in the travel retail and distributor markets and in Asia. Net sales in North America grew by 1.6%, or 1.1% at constant rates, and were balanced across the prestige and mass businesses.
"We had another quarter of strong growth for the Elizabeth Arden brand and are progressing with our rebranding initiative," said E. Scott Beattie, chairman, president and CEO of Elizabeth Arden. "Global sales of Elizabeth Arden branded products grew by 14% this quarter with sales of the skin care and color cosmetic portfolio increasing by 22%. Sales of Britney Spears and Elizabeth Taylor fragrances also rose by 14% and 16%, respectively. The Taylor Swift fragrance Wonderstruck was successfully launched this quarter, and we are excited by the early results. Looking forward, despite the uncertain economic environment globally, we remain confident that our identified initiatives to drive sales increases across our brand portfolio and improve margins will result in strong cash flow and earnings growth for fiscal 2012."
More information on this financial report is available at Elizabeth Arden’s website.