New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 13, 2014
11:44 EDTIPAR, COTY, REV, RDENPerfume makers slip following unexpected loss from Elizabeth Arden
Shares of several perfume and cosmetic companies are falling after one of the companies in the space, Elizabeth Arden (RDEN), unexpectedly reported a third quarter loss amid weaker than expected sales. WHAT'S NEW: Elizabeth Arden reported a third quarter loss per share of (84c), compared to analysts' consensus expectation for a breakeven quarter. The company reported revenue of $210.8M, which fell well short of analysts' projection of over $256M. The company's net sales in its North American segment fell 23% from the prior year, with Elizabeth Arden attributing the decrease to fewer fragrance launches in this year compared to the prior year. Elizabeth Arden's International sales declined 16% from the prior year, with the decrease due to the company's efforts to maintain product pricing across both branded products and key fragrance brands. The company also reported that its net sales of its branded skin care, color and fragrance products declined 19% compared to the same quarter last year. WHAT'S NOTABLE: Elizabeth Arden confirmed that it has engaged Goldman Sachs (GS) to assist its board in looking into potential strategic alternatives to enhance shareholder value, to accelerate growth and maximize the value of its brand portfolio, as had been reported by Reuters last month. Reuters also reported on April 23 that South Korea's LG Household & Healthcare was considering a bid for Elizabeth Arden. On April 28, research firm Stifel suggested in a note to investors that Coty (COTY) could benefit from purchasing Elizabeth Arden. The firm said at the time that it believed such an acquisition could be "significantly" accretive to Coty and it kept a hold rating on Coty's shares. PRICE ACTION: During late morning trading, shares of Elizabeth Arden fell $6.24, or 17.5%, to $29.39. Shares of a number of other perfume and cosmetics makers were lower as well, with Coty (COTY) down 2.6%, Inter Parfums (IPAR) slipping 0.6% and Revlon (REV) lower by 1.5%.
News For RDEN;COTY;IPAR;REV From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 19, 2014
10:00 EDTCOTYOn The Fly: Analyst Initiation Summary
Subscribe for More Information
06:14 EDTCOTYCoty initiated with a Buy at BTIG
Subscribe for More Information
November 17, 2014
16:09 EDTIPARInter Parfums sees FY15 EPS 95c-98c, consensus $1.14
Sees FY15 net sales $500M, consensus $534.5M. Sees FY15 growth in net sales of approximately 7% compared to 2014s net sales guidance on a constant currency basis. CFO Russell Greenberg said, We enter 2015 well positioned for continued growth given our aggressive launch plans for the majority of our brands, and the strong trends being exhibited by Lanvin, Jimmy Choo and Montblanc. With that said, given the uncertainty and limited visibility of some of our key Eastern European markets, such as Russia, elevated geopolitical concerns in the Middle East, as well as the more modest growth rates of China and Southeast Asia relative to 2012 and 2013, at this time, we are introducing an initial outlook for the coming year with a prudent degree of conservatism. Additionally, our 2015 guidance for net sales and net income attributable to Inter Parfums, Inc. factors in a Euro/U.S. Dollar exchange rate of approximately 1.24, which is nearly 10% lower than the average exchange rate through the first nine months of 2014. As the year progresses, with the benefit of greater visibility into both market and currency trends, we expect to update our guidance as appropriate.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use