Interviews
News Flash
Elizabeth Arden CEO pleased with Q1 fiscal 2009 results
07 Nov '08
5 min read
OUTLOOK - Given the challenging consumer and retail environment worldwide and the impact of foreign currency fluctuations, the Company is revising its fiscal 2009 guidance for the first half and full fiscal year. The Company currently expects reported net sales to increase by 1.0% to 3.5% for the first half of fiscal 2009 and to increase by 6.5% to 8.5% for the full fiscal year. Excluding the unfavorable impact of foreign currency translation, the Company expects net sales to increase by 3.5% to 6.0% for the first half of fiscal 2009 and by 9.5% to 11.5% for the full fiscal year, assuming current rates.
The Company expects diluted earnings per share to range between $1.18 to $1.28 for the first half of fiscal 2009 and to range between $1.50 and $1.75 for the full fiscal year, excluding an expected unfavorable impact from foreign currency translation of $0.18 for the first half of fiscal 2009 and $0.08 for the full fiscal year, assuming current rates. This compares to original guidance of $1.28 to $1.40 for the first half of fiscal 2009 and $1.65 to $1.85 for the full fiscal year.
The guidance assumes current rates in effect as of the end of October 2008 and excludes expenses related to the Liz Claiborne license agreement and restructuring charges associated with the Company's extended supply chain, logistics and transaction processing re-engineering project.
As previously disclosed, the Company's reported gross margins for the first half of fiscal 2009 will be impacted by non-cash expenses related to the Liz Claiborne inventory purchased by the Company at a higher cost prior to the effective date of the license agreement.
The Company recorded $15.4 million of these non-cash expenses (pre-tax) in the quarter ended September 30, 2008 and expects to incur $3.6 million in the second fiscal quarter ending December 31, 2008.
Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 90 countries.
The Company expects diluted earnings per share to range between $1.18 to $1.28 for the first half of fiscal 2009 and to range between $1.50 and $1.75 for the full fiscal year, excluding an expected unfavorable impact from foreign currency translation of $0.18 for the first half of fiscal 2009 and $0.08 for the full fiscal year, assuming current rates. This compares to original guidance of $1.28 to $1.40 for the first half of fiscal 2009 and $1.65 to $1.85 for the full fiscal year.
The guidance assumes current rates in effect as of the end of October 2008 and excludes expenses related to the Liz Claiborne license agreement and restructuring charges associated with the Company's extended supply chain, logistics and transaction processing re-engineering project.
As previously disclosed, the Company's reported gross margins for the first half of fiscal 2009 will be impacted by non-cash expenses related to the Liz Claiborne inventory purchased by the Company at a higher cost prior to the effective date of the license agreement.
The Company recorded $15.4 million of these non-cash expenses (pre-tax) in the quarter ended September 30, 2008 and expects to incur $3.6 million in the second fiscal quarter ending December 31, 2008.
Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 90 countries.
Elizabeth Arden Inc
Popular News
Leave your Comments
Editor’s Pick
Pratik Gadia
The Yarn Bazaar - Filosha Infotech Private Limited
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
