Elizabeth Arden net sales rise by 13.5% in fiscal Q1 2013

Beauty products manufacturer Elizabeth Arden has reported a 13.5% increase in net sales to $344.54m in the first quarter of fiscal 2013 ended 30 September 2012, up from $303.53m during the same quarter in 2011.

The company’s gross profit for the current quarter increased to $147.39m, as against $142.43m in the corresponding quarter of the previous year.

Elizabeth Arden’s net income for the first quarter 2013 slipped to $2.18m, down from $9.23m for the same period in the previous year.

The firm posted adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $19.52m, compared to $25.33m in the first quarter of 2012.

Elizabeth Arden chairman, president and chief executive officer Scott Beattie said the firm reported a double digit growth in net sales and adjusted earnings per share in the first quarter.

"Although early in the roll-out, we are experiencing strong retail sales performance at the flagship doors with our revitalized Elizabeth Arden products. As we look forward to the holiday season, we believe that our significant innovation along with the continued rollout of Elizabeth Arden branded products has us well positioned to continue our positive performance," Beattie added.

Net sales for the firm’s international segment increased by 2.2%, or 8.8% at constant rates, over the fiscal year 2012 first quarter.

The company’s North American segment net sales posted a 20% growth, which primarily benefitted from several new fragrance launches.

Elizabeth Arden is a US-based company, whose portfolio includes skin care, makeup, fragrances and gift sets.

The firm’s celebrity fragrance brands include Britney Spears, Elizabeth Taylor, Justin Bieber, Mariah Carey, Nicki Minaj, Taylor Swift, and Usher.