Below are excerpts from Elizabeth Arden's 3rd Quarter Financial Report.
At Elizabeth Arden, much of the fragrance sales decline stemmed from department stores returning discontinued brands. The company is also seeing merchants reduce the number of brands they carry.
Arden hopes that new products will spur some growth. After seeing a 50 percent rise in Juicy Couture fragrance sales so far this year it will launch Peace, Love and Juicy Couture in upscale stores in August. Other items include Mariah Carey's Lollipop Bling, due in June, and Kate Spade fragrances, due out in the fall.
Source: Reuters / mariahdaily