05.03.12
Elizabeth Arden, Inc. posted financial results for its third fiscal quarter ended March 31, 2012. Net sales rose 3.5% to $239.3 million. Net sales for the company's international segment in the current quarter increased by 6.3%, while net sales in the company's North America segment grew by 1.7%.
For the nine months ended March 31, 2012, the company reported that net sales increased 5.5% to $972.7 million.
CEO E. Scott Beattie commented, "Overall results were in line with our expectations. In anticipation of the rollout of the newly packaged and reformulated products associated with the Elizabeth Arden brand repositioning, there has been a reduced pipeline of innovation of Elizabeth Arden products this quarter. We continue to make considerable progress toward this initiative, which we believe will be transformational for our Company. We are on schedule to accomplish the rapid conversion of approximately 50 flagship customer doors by the end of September 2012, with a broader group of our customer doors to follow."
For fiscal 2012, the company now expects net sales growth of 5.0% to 5.5% over the prior fiscal year. For the fourth fiscal quarter, net sales are expected to range between $261 million and $267 million. The company will introduce fiscal 2013 guidance in August 2012 when it reports its fourth quarter and fiscal 2012 financial results.