11.04.10
Elizabeth Arden, Inc. posted encouraging financial results for its first fiscal quarter ended Sept. 30, 2010. Net sales rose 7.4% to $284.8 million.
E. Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc., commented, "Through the first quarter, our business overall performed as we expected. Sales and earnings results were ahead of prior guidance, driven primarily by continued strong momentum in our international business. In constant currencies, net sales of our international business increased by 14%, with sales in Europe and our travel retail and distributor markets increasing by 14% and 31%, respectfully. Our net sales in North America rose by 6%."
Beattie continued, "We are pleased with the performance of our brands and the progress we are making with our global brand marketing initiatives. Sales of Elizabeth Arden branded skin care products rose by 12% in the first quarter, and sales of our fragrance business grew by 8.0% overall and 17% in Europe. As we head into the holiday period, we are encouraged and expect our key brands and launches to perform well."
For the second quarter of fiscal 2011, the company is introducing guidance for net sales of $393 million to $403 million.
Elizabeth Arden is raising its annual net sales guidance for the fiscal year ending June 30, 2011 to a net sales increase of 3.5% to 4.5%, as compared to the prior fiscal year.
E. Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc., commented, "Through the first quarter, our business overall performed as we expected. Sales and earnings results were ahead of prior guidance, driven primarily by continued strong momentum in our international business. In constant currencies, net sales of our international business increased by 14%, with sales in Europe and our travel retail and distributor markets increasing by 14% and 31%, respectfully. Our net sales in North America rose by 6%."
Beattie continued, "We are pleased with the performance of our brands and the progress we are making with our global brand marketing initiatives. Sales of Elizabeth Arden branded skin care products rose by 12% in the first quarter, and sales of our fragrance business grew by 8.0% overall and 17% in Europe. As we head into the holiday period, we are encouraged and expect our key brands and launches to perform well."
For the second quarter of fiscal 2011, the company is introducing guidance for net sales of $393 million to $403 million.
Elizabeth Arden is raising its annual net sales guidance for the fiscal year ending June 30, 2011 to a net sales increase of 3.5% to 4.5%, as compared to the prior fiscal year.