The company reported net sales of $284.8 million, an increase of 7.4 percent, as compared to the first quarter of the prior fiscal year. Excluding the unfavorable impact of foreign currency translation, net sales increased by 8.1 percent.
E. Scott Beattie, CEO of Elizabeth Arden, commented, "Through the first quarter, our business overall performed as we expected. Sales and earnings results were ahead of prior guidance, driven primarily by continued strong momentum in our international business.”
In constant currencies, net sales of Elizabeth Arden’s international business increased by 14 percent, with sales in Europe, and travel retail and distributor markets, increasing by 14 percent and 31 percent, respectively Net sales in North America also rose by 6 percent.
Skin care and fragrance brands showing growth
As well as positive net sales figures, the beauty brand also claims the performance of its brands and progress of its global marketing initiatives is positive.
“Sales of Elizabeth Arden branded skin care products rose by 12 percent in the first quarter, and sales of our fragrance business grew by 8 percent overall and 17 percent in Europe,” Beattie continued.
“As we head into the holiday period, we are encouraged and expect our key brands and launches to perform well."
Looking ahead to the next quarter
For the second quarter of fiscal 2011, Elizabeth Arden is introducing guidance for net sales of $393 million to $403 million.
It is raising its annual net sales guidance for the fiscal year ending June 30, 2011 to a net sales increase of 3.5 percent to 4.5 percent, as compared to the prior fiscal year.
The report does state the current annual net sales guidance assumes minimal impact from foreign currency translation.