Arden Q1
This article was originally published in The Rose Sheet
Executive Summary
Fragrance launches including With Love...Hilary Duff and Danielle by Danielle Steel and skin care products such as a new Prevage anti-aging eye product helped drive a 12.1% increase in revenues to $254.8 mil. in the first quarter (ended Sept. 30), Elizabeth Arden announces Nov. 3. The performance also benefited from the addition of brands from the Rivera Concepts and Sovereign Sales acquisitions (1"The Rose Sheet" July 10, 2006, In Brief and 2"The Rose Sheet" Aug. 21, 2006, In Brief). Britney Spears fragrances grew 14% due to gains from the Fantasy and Midnight Fantasy scents, while the house of Elizabeth Taylor was up 37%, driven by sales of a limited edition White Diamonds perfume. Arden's U.S. mass fragrance business was up 10% in the quarter, and non-Arden department store scents advanced 8%. Arden's net loss in Q1 was $1.31 mil., including restructuring charges, compared to a net gain of $895,000 in the prior-year period...