Elizabeth Arden reports double digit growth in Q1 2013

Elizabeth Arden, Inc has reported strong first quarter fiscal 2013 results, with net sales increasing 13.5% to a total of $344.5m, compared with the same period last year.

On a reported basis, net income per diluted share for the period was $0.07, while on an adjusted basis, net income per diluted share for the quarter ended September 30, 2012 was $0.44, compared to $0.31 for the prior year period.

More good news was in store for the company’s international segment as net sales increased by 2.2%, or 8.8% in constant rates. In particular, net sales in the North American segment grew by 20% bolstered by several new fragrance launches. Internationally, the company’s European and emerging markets showed strongest sales growth.

Elizabeth Arden’s branded products saw sales slide by 5.1%, or 0.9% in constant rates, compared to the same period last year, which reflects “the company’s continued wind down of retailer inventory in advance of the broader roll-out of the Elizabeth Arden brand repositioning”.

E Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc, said: “We have begun the year strongly, reporting double digit growth in net sales and adjusted earnings per share. Although early in the roll-out, we are experiencing strong retail sales performance at the flagship doors with our revitalised Elizabeth Arden products. As we look forward to the holiday season, we believe that our significant innovation along with the continued roll-out of Elizabeth Arden branded products has us well positioned to continue our positive performance.”