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Minerals Strong at Bare Escentuals in 1Q Report
2008-05-02 | 09:40
irst quarter sales increase 21%, net income expands 26%
Bare Escentuals, Inc. posted its financial results for the first fiscal quarter ended March 30, 2008. Net sales for the first quarter were $140.4 million, an increase of approximately 21% from $115.6 million in the prior year. Net income for the first quarter of fiscal 2008 was $25.8 million, a rise of 26% compared to $20.4 million in the first quarter of fiscal 2007.
“We are pleased with our strong start to 2008 which reflects a continuation of the positive brand momentum experienced in 2007,” said Leslie Blodgett, the company’s chief executive officer. “We are on track to significantly expand our points of presence domestically and internationally, including our recent launch at Selfridges in London, our first department store in the United Kingdom. At the same time, we’re excited about our new business initiatives, including the growth of our mineral skin care line, RareMinerals.”
For fiscal 2008, the company continues to expect sales to grow in the range of 20% to 25% compared to fiscal year 2007.
“We are pleased with our strong start to 2008 which reflects a continuation of the positive brand momentum experienced in 2007,” said Leslie Blodgett, the company’s chief executive officer. “We are on track to significantly expand our points of presence domestically and internationally, including our recent launch at Selfridges in London, our first department store in the United Kingdom. At the same time, we’re excited about our new business initiatives, including the growth of our mineral skin care line, RareMinerals.”
For fiscal 2008, the company continues to expect sales to grow in the range of 20% to 25% compared to fiscal year 2007.
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