Sales: $1.3 billion. Net income: $40.7 million for the year ended June 30, 2013.
Key Personnel: E. Scott Beattie, chairman, president and chief executive officer; Joel B. Ronkin, executive vice president and general manager, North America; Eric Lauzat, executive vice president and general manager, international; Kathy Widmer, executive vice president and chief marketing officer; Pierre Pirard, executive vice president, product innovation and global supply chain; Oscar E. Marina, executive vice president, general counsel and secretary; L. Hoy Heise, executive vice president and chief information officer.
Major Products: Skin care, color cosmetics and fragrances sold under the Elizabeth Arden name, as well as celebrity, lifestyle and designer fragrances.
New Products: Fragrances—Pink Friday Nicki Minaj, Justin Bieber’s Girlfriend and Ed Hardy Skull & Roses; Skin Care—Elizabeth Arden Rx; Prevage Anti-Aging + Intensive Repair Eye Serum, Ceramide Boosting 5-Minute Facial, Flawless Future, Eight-Hour Cream, Skin Illuminating; Makeup—Summer Escape 2014, Flawless Finish, Beautiful Color, Flawless Finish Perfectly Nude Makeup. To be launched: Wildfox Couture scents (Spring 2015).
Comments: Is Elizabeth Arden on the selling block? That’s what Wall Street observers were speculating after LG publicly mulled a bid for Arden back in April. More questions arose the following month when the company reported poor results for its fiscal third quarter ended March 31. Net sales fell more than 20% to about $121 million. For the nine months, sales were down nearly 10% to about $973 million.
“Clearly these results are not indicative of the strength and potential of our brand portfolio,” noted E. Scott Beattie, chairman, president and CEO. “We have been hampered this year by weak performance in our North American mass fragrance business and a global environment that has been highly promotional. “ In an attempt to get growing again, the company board of directors approved a broad restructuring and cost savings program that is intended to reduce the size and cost of the company’s overhead structure and exit low-return businesses, customers and brands to improve gross margins and profitability in the long term. The plan includes eliminating jobs, brands and retail partners, as well as closing its affiliate in Puerto Rico.
Last year, sales rose about 8% to more than $1.3 billion. Fragrance accounted for 78% of that total, followed by skin care and (17%) and cosmetics (5%).