Elizabeth Arden reports third consecutive quarter of sales growth

By

Obi Anyanwu

Published
Nov 5, 2015

Elizabeth Arden on Wednesday announced its financial results for its third quarter of fiscal 2016 ended September 30, 2015. The company reported that it did not manage to exceed the sales numbers of the previous year’s comparable period. Net sales were $266 million in Q1 2016, a 1.6% decrease from the previous year. North America segment sales were flat and international segment net sales decreased by 7%.

The company reported its third consecutive quarter of sales growth, but it did not manage to exceed the sales numbers of the previous year’s comparable period. Net sales were $266 million in Q1 2016, a 1.6% decrease from the previous year. North America segment sales were flat and international segment net sales decreased by 7%.
 
At constant currency rates, net sales increased 2.8%, the North America segment increased 1% and the international segment increased 5%. In addition, net sales for Elizabeth Arden branded products and non-Elizabeth Arden branded fragrances increased by 6% and 1%, respectively.

“This is the third consecutive quarter of sales growth for the Elizabeth Arden brand, and we are pleased to see our fragrance portfolio return to growth (in both cases at constant foreign currency rates)," commented E. Scott Beattie, Chairman and Chief Executive Officer. "The new Elizabeth Arden brand marketing campaign launched this fall and is accompanied by a rich innovation pipeline. Retail performance of our latest skin care launch is exceeding plan in all markets and leading to broad-based skin care net sales increases.”
 
The company expects net sales to increase for fiscal 2016 driven by its international business and the Elizabeth Arden brand.