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Stock Market & Financial Investment News

News Breaks
May 13, 2014
11:44 EDTRDEN, COTY, IPAR, REVPerfume 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
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October 30, 2014
07:34 EDTRDENElizabeth Arden reiterates outlook for FY15
Specifically, the company expects a modest improvement in adjusted earnings for fiscal 2015 over the prior year with continued improvement in fiscal 2016, and continues to expect the following: Net sales headwinds to continue for the first half of fiscal 2015, resulting primarily from continued proactive tightening of distribution and a lower level of product innovation as compared to the first half of the prior fiscal year; Net sales increases in the second half of the fiscal year versus the prior year period as the year-over-year product launch comparisons moderate and the company begins to realize the impact of improved pricing; Gross margin expansion due to improved pricing, better sales mix, lower discounts and realization of reduced supply chain and product costs; Lower overall selling, general and administrative expenses, with some reinvestment of 2014 Improvement Plan savings to drive future growth; Improved EBITDA margins from gross margin expansion and lower selling, general and administrative expenses; and Stronger cash flow from operations as a result of modestly higher earnings and lower investment in inventory.
07:33 EDTRDENElizabeth Arden reports Q1 adjusted EPS (43c), consensus (53c)
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October 29, 2014
07:46 EDTREVRevlon reports U.S. total company net sales $243.8M
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07:37 EDTREVRevlon reports Q3 EPS from cont. ops 27c, may not compare to one estimate $1.00
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October 28, 2014
15:44 EDTREVNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Southern Company (SO), consensus $1.07; Phillips 66 (PSX), consensus $1.75; Automatic Data Processing (ADP), consensus 60c; Praxair (PX), consensus $1.63; WellPoint (WLP), consensus $2.27; Exelon (EXC), consensus 73c; Eaton (ETN), consensus $1.23; Hess (HES), consensus $1.08; TE Connectivity (TEL), consensus $1.00; McGraw Hill Financial (MHFI), consensus 94c; Waste Management (WM), consensus 68c; Hershey (HSY), consensus $1.08; Ralph Lauren (RL), consensus $2.06; Wisconsin Energy (WEC), consensus 53c; Garmin (GRMN), consensus 71c; Sealed Air (SEE), consensus 46c; DENTSPLY (XRAY), consensus 60c; Goodyear Tire (GT), consensus 70c; Revlon (REV), one estimate 45c; Booz Allen (BAH), consensus 41c; Carlyle Group (CG), consensus 54c.
October 22, 2014
16:10 EDTIPARInter Parfums reports Q3 revenue from ongoing brands $134.2M
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16:09 EDTIPARInter Parfums reaffirms 2014 EPS outlook 93c-95c, consensus 94c
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16:08 EDTIPARInter Parfums reports Q3 revenue $134.2M, consensus $140.34M
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