Elizabeth Arden sees 8.8% sales rise
Growth driven by new acquired brands and recent fragrance launches
US beauty company Elizabeth Arden ended its second quarter for 2012 with net sales of $467.9m, an 8.8% rise on the prior year quarter.
Growth was driven by North America, where net sales jumped 8.4% for the quarter and 13% fiscal year-to-date. The strong sales were driven by the company’s newly acquired brands and recent launches including Justin Bieber's Girlfriend, Pink Friday Nicki Minaj and Taylor Swift Wonderstruck Enchanted.
Net sales of Elizabeth Arden branded products meanwhile, fell 6% for the quarter, while overall retail sales at Elizabeth Arden counters in North America remained flat.
Internationally, net sales grew 11% during the quarter with net sales of Elizabeth Arden branded products growing 10%. Commenting on the results, E. Scott Beattie, Chairman, President and CEO of Elizabeth Arden said: "Second quarter sales and earnings were up solidly from the prior year, with strong retail sales performance within our North America and International businesses. Nonetheless, our net sales results were below original guidance due to lower than forecasted sales in department stores as well as softer than anticipated holiday sales at one of our major mass retail accounts. Despite strong sales growth among many of our global affiliates, international net sales were impacted by lower than expected inventory replenishment in our travel retail business and weakness in Greater China."
