Elizabeth Arden Receives Better Than Expected Sales

Cosmetics company Elizabeth Arden Inc. (RDEN.O: Quote, Profile , Research) reported better-than-expected quarterly profit on Thursday, helped by strong sales in international markets and higher demand for its fragrances.

The company also gave a profit forecast for the coming year that was above
current Wall Street estimates. But it forecast a loss for the current quarter, saying it would boost media spending.

Quarterly sales at Arden, known for its namesake and Britney Spears perfumes, rose 28 percent to $242.7 million, driven by new fragrance brands and higher sales in global markets. In addition to strong demand for Britney Spears fragrances, the company cited success with a perfume named for novelist Danielle Steel, saying it was a leading brand for Mother’s Day at retailers J.C. Penney Co. (JCP.N: Quote, Profile , Research), Kohl’s Corp. (KSS.N: Quote, Profile , Research) and Sears Holdings Corp. (SHLD.O: Quote, Profile , Research)

Analysts currently expect $1.58 a share for next year and profit of 7 cents a
share for the first quarter, according to Reuters Estimates.

Source: Reuters