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Fashion Jobs
By
Reuters
Published
Feb 5, 2009
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Elizabeth Arden profit lower

By
Reuters
Published
Feb 5, 2009

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)

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