Arden posts 10.5% Q3 net sales spike
Growth during the quarter was led by strong celebrity fragrance sales and the continued growth of the brand’s Juicy Couture line
US beauty company Elizabeth Arden has posted solid third fiscal results following healthy fragrance sales in some of its key markets. Net sales for the quarter came to $264.5m, an increase of 10.5% compared with the same quarter last year.
In North America, net sales climbed 9.4% for the quarter and 12.2% for the year-to-date. Sales growth was driven by the brand’s latest celebrity fragrance launches, including Pink Friday Nicki Minaj, Justin Bieber's Girlfriend and Taylor Swift Wonderstruck Enchanted, along with the continued growth of Juicy Couture fragrances.
Internationally, net sales grew 14% during the quarter. Net sales of fragrances grew 22% while net sales of Elizabeth Arden branded products increased by 1%. Retail sales remained relatively strong at the brand’s flagship counters, climbing 22% in North America year over year.
Commenting on the results, E. Scott Beattie, Chairman, President and CEO of Elizabeth Arden said: "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. Our focus is on extending key elements of the flagship model to drive the Elizabeth Arden brand on a global basis."