Updated Nov 12, 2007
The launch of singer Mariah Carey’s first fragrance, M, has been credited with contributing to the first quarter success of Elizabeth Arden. According to published reports, Elizabeth Arden’s revenue for the period was $271.8 million up from $254.8 million, showing a 6.7 percent rise.
Also contributing to the improvement in the Company’s revenue over the last quarter was the double-digit growth in the
US prestige fragrance division. Elizabeth Arden said that
US business grew by 14 percent.
The 12 percent increase in international sales is attributed with driving the turn-around of the Elizabeth Arden’s improving fortunes. In 2006, the Company reported loss of $1.32 million, the increasing sales for the first quarter has resulted in net profit of $350,000. These revenues will be used to help the Company reduce its debts.
Written by the CareFair.com Editorial Team.
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