NEW YORK (Reuters) - Cosmetics and perfume company Elizabeth Arden Inc (RDEN.O) posted a sharply lower second-quarter profit on Thursday, but topped Wall Street's expectations, as sales took a hit from weak demand during the holiday shopping season. Net profit fell to $17.4 million, or 61 cents per share, in the quarter that ended December 31, compared with a profit of $33.8 million or $1.15 per share, a year earlier. But the profit of 61 cents per share, which excludes the effect of costs tied to Liz Claiborne license agreement and restructuring costs, topped the average analyst expectation of 59 cents per share, according to Reuters Estimates. Sales fell 12.4 percent to $370 million. Elizabeth Arden, popular for its Britney Spears perfume and Prevage anti-aging skin products, maintained its full-year earnings and sales outlook, which it had slashed last month. For the full fiscal year ending June 30, it expects sales to decline 4 percent to 5 percent and per-share earnings of 71 cents to 84 cents. (Reporting by Aarthi Sivaraman; Editing by Derek Caney) |
Elizabeth Arden Inc's quarterly profit topped expectations as sales picked up during the quarter, but the cosmetics maker said it remains cautious about the rest of the year as retailers continue to manage inventories conservatively. 
Cosmetics and perfume company Elizabeth Arden Inc reported a narrower quarterly loss on Thursday 7 May, helped by modest improvement in retail sales and a new fragrance launch. 
Cosmetics makers Estee Lauder Cos Inc and Elizabeth Arden Inc warned of disappointing quarterly profits and slashed their full-year outlooks, citing weak sales over the holiday shopping period. 
U.S. cosmetics maker Elizabeth Arden Inc posted a quarterly net loss on Thursday, versus a year-ago profit, hurt by one-time charges and lower sales. The net loss was $10. 
