Elizabeth Arden, Inc. posted financial results for its third fiscal quarter ended March 31, 2013.
Net sales increased 10.5% to $264.5 million. In North America, net sales increased 9.4% for the quarter and 12.2% fiscal year-to-date. Sales growth was driven by new launches, including Pink Friday Nicki Minaj, Justin Bieber's Girlfriend and Taylor Swift Wonderstruck Enchanted, and growth in existing fragrance brands, including the Juicy Couture fragrances.
Internationally, net sales grew 14% for the third fiscal quarter and 11.1% fiscal year-to-date.
Net sales of Elizabeth Arden branded products increased by approximately 1% for the quarter and fiscal year-to-date on a global basis. Retail sales at the company's Elizabeth Arden flagship counters have increased 22% in North America year over year since conversion, and retail sales at the international flagship doors have increased 18% in the aggregate since conversion. These increases are driven by the retail sales performance of skin care and color.
E. Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc., commented, "We continue to execute against our key growth initiatives. Sales of fragrances expanded strongly in all of our key fragrance markets this quarter. During the quarter, we opened our affiliate in Brazil and began commercial sales in that market in February. We also continue to be very excited with the traction we are seeing with the Elizabeth Arden brand repositioning and the momentum of retail sales increases in our Elizabeth Arden flagship doors. As we mentioned, the flagship model was established as a way for us to test, learn, and gather feedback on the repositioning of the Elizabeth Arden brand, as well as to build confidence in the growth potential of the brand with our key retail partners. Our focus is on extending key elements of the flagship model to drive the Elizabeth Arden brand on a global basis."
For the nine months ended March 31, 2013, net sales rose 10.7% to $1.07 billion. For the full fiscal year ending June 30, 2013, the company expects net sales to increase by 9% to 11%.