Elizabeth Arden, Inc. announced financial results for the second fiscal quarter and six months ended Dec. 31, 2007.
For the second quarter, net sales increased 2.8% to $422.4 million for the three months ended Dec. 31, 2007. According to the company, the boost is a result of increased sales in international markets across all brand categories and the global launch of the M by Mariah Carey fragrance.
Net sales rose 4.3% to $694.2 million for the six months ended Dec. 31, 2007. Net income, excluding restructuring charges, was $34.9 million.
For the three months that ended Dec. 31, 2007, net income was $33.8 million.
E. Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc., commented, “The strength of our international business and our focus on operating efficiencies enabled us to achieve our earnings and operating margin targets this quarter despite a difficult holiday season in North America.
“For the first half of the year, we had an overall decline in our net sales in North America of 2%, while we had expected growth of approximately 4.5%, or $20 million. This shortfall was due to weak holiday performance largely at mass volume and prestige department store retailers.”