Transitional year at Arden, but CEO is hopeful for 2015.
Elizabeth Arden, Inc. posted financial results for its second fiscal quarter ended Dec. 31, 2014. Net sales fell 17.2% to $333.6 million. Despite the decline, E. Scott Beattie, chairman, president and chief executive officer, remained optimistic.
"Our management team, with the full engagement of our board of directors and Rhone Capital, is focused on repositioning our brand portfolio and cost structure to return our business to sustainable growth and profitability," he said. "Fiscal 2015, as we have stated, is a transitional year as we work to set a strong foundation for the future. In China, we are making tough decisions in support of a new distribution strategy to drive a healthier and more profitable business."
Aside from China and the continued decline in celebrity fragrance sales, the remainder of Arden's business performed as expected, said Beattie.
Net sales for the six months slipped 18.3% to $604.0 million.
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||Financial News|
|Publication:||Household & Personal Products Industry|
|Date:||Apr 1, 2015|
|Previous Article:||Cosmetics Sales Rise at LVMH.|
|Next Article:||RSPO mass balance supply chain certification for Acme-Hardesty.|