Elizabeth Arden announces ‘record’ full year results
Solid organic growth attributed to sales increase
Elizabeth Arden has announced full year net sales of $1.176bn, an increase of 6.5% on the previous year, or 5.9% excluding the favourable impact of foreign currency.
Net sales for the fourth quarter also increased, reaching $253.8m, an increase of 11.2% or 7.7% excluding the foreign currency impact.
“Our focus over the past several years has been on delivering consistent improvement in our key operating metrics and I am pleased to report that we have delivered a record year of sales and profitability,” commented E Scott Beattie, chairman, president and ceo. “Our results include solid organic growth of our brand portfolio across all of our businesses.”
The company recently amended its long-term license agreement with Liz Claiborne to acquire the trademarks for the Curve fragrance brand and other smaller fragrance brands, and also includes a lower effective royalty rate for the remaining licensed fragrance brands including Juicy Couture.
Looking ahead to fiscal 2012, net sales are expected to increase 5%-6%, with a net sales guidance increase for the first quarter of 2%.