Key Developments: Elizabeth Arden Inc (RDEN.O)
48.80USD
17 May 2013
$0.94 (+1.96%)
$47.86
$48.19
$48.99
$47.93
280,721
210,235
$49.75
$32.73
Latest Key Developments (Source: Significant Developments)
Elizabeth Arden Inc Reaffirms FY 2013 Guidance
Elizabeth Arden Inc announced that based on the retail trends year-to-date and the seasonally slower fragrance market in the second fiscal half, the Company is reducing its revenue and earnings guidance. For fiscal 2013, the Company currently expects net sales to increase by 9% to 11%, assuming an expected unfavorable impact from foreign currency of approximately 0.5%, as compared to the prior year period, and for earnings per diluted share (adjusted) to be in the range of $2.30 to $2.50. The Company reported revenue of $1.238 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.36 billion and EPS of $2.41 for fiscal 2013. Full Article
Elizabeth Arden Inc Lowers FY 2013 Guidance; Issues Q3 2012 Guidance Below Analysts' Estimates
Elizabeth Arden Inc announced that based on the retail trends year-to-date and the seasonally slower fragrance market in the second fiscal half, the Company is reducing its revenue and earnings guidance. For fiscal 2013, the Company currently expects net sales to increase by 9% to 11%, assuming an expected unfavorable impact from foreign currency of approximately 0.5%, as compared to the prior year period, and for earnings per diluted share (adjusted) to be in the range of $2.30 to $2.50. For the third quarter of fiscal 2013, the Company is introducing guidance for net sales of $255 million to $270 million, and for net income per diluted share (EPS) of $0.00 to $0.04. The net sales guidance for the third quarter of 2013 assumes an unfavorable impact from foreign currency rates of approximately 0.2%, as compared to rates in effect for the prior year period. The Company reported revenue of $1.238 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.418 billion and EPS of $2.66 for fiscal 2013; and revenue of $275 million and EPS of $0.18 for the third quarter of 2013. Full Article
Elizabeth Arden Inc Reaffirms FY, H1 2013 Guidance; Issues Q2 2013 Guidance; Sees Q2 2013 Charge Guidance
Elizabeth Arden Inc confirmed guidance for the first half of 2013 of net sales of $825 million to $840 million and earnings per diluted share of $1.98 to $2.08. For the second quarter of fiscal 2013, the Company expects net sales of $480 million to $495 million and earnings per diluted share to be in the range of $1.54 to $1.64. The Company is also confirmed guidance for fiscal 2013 for a net sales increase of 13.5% to 15.0% over the prior fiscal year and for earnings per diluted share of a range of $2.55 to $2.70. The annual net sales guidance assumes an unfavorable impact from foreign currency rates of approximately 0.70% as compared to rates in effect for fiscal 2012. The earnings guidance excludes non-recurring charges related to the Elizabeth Arden brand repositioning and expenses related to the acquisitions completed in the fourth quarter of fiscal 2012. The Company expects to incur the remainder of these charges, currently estimated at $4.6 million, primarily during the second quarter of 2013. Full Article
Elizabeth Arden Inc Announces Investment In Red Door Spa Holdings
Elizabeth Arden Inc announced that it has made an investment in Red Door Spa Holdings, the operator of the Elizabeth Arden Red Door Spas and the Mario Tricoci Hair Salons privately owned by North Castle Partners. Elizabeth Arden, Inc. (the Company) licenses the trademarks for the Elizabeth Arden and Red Door brand names to Red Door Spa Holdings, the owner and operator of the Elizabeth Arden Red Door Spas. Red Door Spa Holdings is a privately-held company backed by North Castle Partners (North Castle), a investor in small-cap consumer companies focused on Health, Wellness and Active Living. Elizabeth Arden, Inc. has partnered with J.H. Anderson Holdings, Inc. and its principal John Anderson, to collectively invest $12 million for a minority interest in Red Door Spa Holdings. In addition, Elizabeth Arden, Inc. and J.H. Anderson Holdings have an option to acquire the remaining interest in Red Door Spa Holdings. The investment will be recorded as a minority investment by the Company and, therefore, it will not have a material impact on the Company’s financial results. Full Article
Elizabeth Arden Inc Issues Q1, H1, FY 2013 Guidance Above Analysts' Estimates; Sees FY, Q1 2013 Charge Guidance
Elizabeth Arden Inc announced that for fiscal 2013, it expects net sales to increase by 13.5% to 15.0% over the prior year. The annual net sales guidance assumes an unfavorable impact from foreign currency rates of approximately 1.40%. Earnings per diluted share (EPS) are expected to be in the range of $2.55 to $2.70. For the first quarter of 2013, it expects net sales in the range of $330-$340 million and EPS to be in the range of $0.38 to $0.43. For the first half of 2013, it expects net sales in the range of $825-$840 million and EPS to be in the range of $1.98 to $2.08. These earnings guidance excludes non-recurring charges related to the Elizabeth Arden brand repositioning as well as expenses related to the recently completed fragrance license acquisitions. The non-recurring charges associated with the Elizabeth Arden brand repositioning for fiscal 2013 are expected to result from costs for product assortment changes and are currently estimated at $8 million (pre-tax), or $0.15 per diluted share, of which $0.12 per diluted share is expected to be incurred in the first quarter of 2013. The Company reported revenues of $1.238 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.304 billion, EPS of $2.37 for fiscal 2013; revenue of $318 million, EPS of $0.37 for the first quarter of 2013; revenue of $450 million, EPS of $1.58 for the second quarter of 2013. Full Article
Elizabeth Arden Inc Announces Acquisition of Licenses for Justin Bieber and Nicki Minaj Fragrance Brands; Reaffirms FY 2012 Guidance
Elizabeth Arden Inc announced that it has acquired the global licenses and certain related assets for the Justin Bieber and Nicki Minaj fragrance brands from Give Back Brands. Terms of the transaction were not disclosed. The Company also announced that excluding the impact of this transaction, the Company confirmed its fiscal 2012 guidance for net sales growth of 5% to 5.5% over the prior fiscal year and net income per diluted share of $1.95 to $2.00. This guidance also excludes any expenses related to the acquisition of the Ed Hardy, True Religion and BCBGMAXAZRIA fragrance licenses mentioned in the Company's press release dated May 31, 2012. The Company reported revenue of $1.176 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $ 1.237 billion and EPS of $2.00 for fiscal 2012 Full Article
Elizabeth Arden Inc Acquires licenses And Certain Related Assets From New Wave Fragrances, LLC
Elizabeth Arden Inc announced that it has acquired the global licenses and certain related assets for the Ed Hardy, True Religion and BCBGMAXAZRIA fragrance brands from New Wave Fragrances, LLC. Terms of the transaction were not disclosed. The Company expects the transaction to be accretive to earnings in fiscal 2013. Full Article
Elizabeth Arden Inc Lowers High End Prior FY 2012 Revenue Outlook And Raises Low End Of Prior FY 2012 EPS Outlook To A Range In Line With Analysts' Estimates; Issues Q4 2012 Revenue Outlook
Elizabeth Arden Inc announced that it expects net sales growth of 5.0% to 5.5% over the prior fiscal year and net income per diluted share of $1.95 to $2.00. For the fourth quarter of 2012, net sales are expected to range between $261 million and $267 million, or increase by 2.9% to 5.2%, including a negative impact from unfavorable foreign currency rates of 1.7% based on current rates. The Company reported revenue of $1.176 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.241 billion and EPS of $1.99 for fiscal 2012; and revenue of $264 million for the fourth quarter of 2012. Full Article
Elizabeth Arden Inc Reaffirms FY 2012 Guidance; Issues Q3 2012 Guidance; EPS Guidance Below Analysts' Estimates
Elizabeth Arden Inc announced that it is confirming its fiscal 2012 guidance for net sales growth of 5% to 6% over the prior fiscal year and net income per diluted share of $1.90 to $2.00. For the third quarter of fiscal 2012, the Company is introducing guidance for net sales of $238 million to $243 million, and for net income per diluted share (EPS) of $0.00 to $0.04. The net sales guidance for the third quarter assumes an unfavorable impact from foreign currency rates of approximately 60 basis points, and the earnings guidance includes a $0.01 per diluted share negative impact due to an anticipated discrete tax item. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.240 billion and EPS of $1.99 for fiscal 2012; and revenue of $243 million and EPS of $0.06 for the third quarter of 2012. Full Article
Elizabeth Arden Inc Issues Q2 2012 Guidance In Line With Analysts' Estimates; Reaffirms FY 2012 Guidance
Elizabeth Arden Inc announced that for the second quarter of 2012, it expects net sales of $424 million to $434 million and net income per diluted share of $1.32 to $1.42 (EPS). The net sales guidance for the second quarter of 2012 assumes a favorable impact from foreign currency rates of approximately 0.5%. The Company also confirmed its guidance for fiscal 2012 for a net sales increase of 5.0% to 6.0% over the prior fiscal year, including a favorable impact from foreign currency rates of approximately 0.5%. The Company also confirmed its guidance for EPS of $1.90 to $2.00. The Company reported revenues of $1.176 billion in fiscal 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $427 million and EPS of $1.42 for the second quarter of 2012; revenue of $1.238 billion and EPS of $1.96 for fiscal 2012. Full Article
Elizabeth Arden has third-quarter net loss though sales beat estimates
- Beauty products company Elizabeth Arden Inc posted a third-quarter loss, but higher-than-expected third-quarter sales that were helped in part by the popularity of celebrity fragrances named for stars like Nicki Minaj and by its push into international markets.
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