×
233
Fashion Jobs
RUDRAKSHA CERAMICS PRIVATE LIMITED
Area Sales Manager
Permanent · Pune
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
MARAL OVERSEAS LIMITED
General Manager _ Accounts
Permanent · Noida
RANG BANDHEJ RETAIL PVT. LTD.
Accounts Executive
Permanent · Ahmedabad
SMART CONSULTANCY SERVICES
vp/General Manager (Operations)
Permanent · Chennai
TECHNOVALUE SOLUTIONS PVT. LTD
Senior Sales Engineer / Area Sales Manager
Permanent · Baddi
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
OAKBRIDGE PUBLISHING PVT LTD
Area Sales Manager
Permanent · Pune
AVANTOR
sr. Account Manager- Lab Products
Permanent · Kolkata
ANTLIA FINTECH PRIVATE LIMITED
Area Sales Manager
Permanent · Prayagraj
EXTRAMARKS EDUCATION
Area Sales Manager- B2B
Permanent · Hyderabad
ERA UNIVERSITY (ERA EDUCATIONAL TRUST)
Production Manager- Lucknow
Permanent · Lucknow
RENOVATE BIOLOGICALS PVT LTD
Area Sales Manager
Permanent · Hyderabad
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
sr. Area Sales Manager / Territory Sales Manager - Fmcg Personal Care
Permanent · Purulia
NASCENT INFO TECHNOLOGIES PVT. LTD.
Sales Manager(Egovernance Software Solutions)
Permanent · Ahmedabad
MOTILAL OSWAL FINANCIAL SERVICES
Opening For Territory Manager B2B Sales - Mumbai
Permanent · Navi Mumbai
FORTUNE HR SOLUTIONS
Merchandising Manager
Permanent · Chennai
NAGA LIMITED
Manager - Production
Permanent · Dindigul
UBRIGHT INTERNATIONAL CO. LTD
Senior Sales Manager 20+ Lakh p.a
Permanent · Pune
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
ERIS LIFESCIENCES LIMITED
Area Business Manager (Generics)
Permanent · Ahmedabad
DIGIKREDIT FINANCE
Requirement For Sales Manager :: Ahmedabad
Permanent · Ahmedabad
By
Reuters
Published
Aug 14, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Lauder, Arden forecast weak 2010 profit

By
Reuters
Published
Aug 14, 2009

LOS ANGELES/SEATTLE, Aug 13 (Reuters) - Estee Lauder Cos Inc (EL.N) and Elizabeth Arden Inc (RDEN.O) forecast weaker-than-expected 2010 profits as frugal shoppers think twice before buying pricey face cream, lipstick and perfume.


Prevage Body anti-ageing from Elizabeth Arden - Photo: elizabetharden.com

The companies, two of the biggest U.S. cosmetic and fragrance sellers, are grappling with weak demand for makeup, perfume and skincare items amid the longest recession in recent memory.

Shares in Estee Lauder, which reported before the stock market opened, closed up 0.4 percent, at $37.80, but fell in after-hours trading. Elizabeth Arden, which reported after the market close, fell 3.4 percent to $10.09 in extended trade.

Estee Lauder, which owns the Clique, Bobbi Brown and M.A.C brands, posted a quarterly profit that met analysts' views, but said its 2010 full-year profit could miss Street expectations.

Elizabeth Arden, seller of Prevage anti-aging cream and perfumes by celebrities such as Britney Spears and Mariah Carey, issued a 2010 profit forecast that missed analysts' forecasts after posting a smaller-than-expected loss.

"(Estee Lauder) continues to struggle through a very challenging consumer and retail environment, and it appears these challenges remain formidable," said Oppenheimer analyst Joseph Altobello in a note to clients.

Department stores and mass retailers have been working through stocks of cosmetics and fragrances for nearly a year and have been reluctant to carry excess inventory because the consumer spending recovery, when it comes, could be anemic.

Estee expects to earn $1.55 to $1.70 per share in fiscal 2010, which began last month. It said uncertain consumer spending, the financial strength of some of its retail customers and their efforts to cut inventories made it difficult to pinpoint an exact forecast.

Analysts, on average, expected a profit of $1.70, according to Reuters Estimates.

The company plans to put more affordable products on store shelves for the holidays, in an effort to lure shoppers who want cheaper items, but still want to stick to their favorite brand of makeup.

Elizabeth Arden forecast 2010 earnings of 50 cents to 65 cents per share, compared with a Street view of 72 cents.

Both companies said an overall drop in air travel has hurt travel retail sales, which include airport shops.

(By Lisa Baertlein and Aarthi Sivaraman. Additional reporting by Jessica Wohl in Chicago; Editing by Derek Caney, Lisa Von Ahn, Bernard Orr and Robert MacMillan)

© Thomson Reuters 2022 All rights reserved.