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Sales Drop 3.4% at Elizabeth Arden in 3Q

Travel retail and distributor markets down

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By: Jamie Matusow

Editor-in-Chief

Elizabeth Arden, Inc. posted financial results for its third fiscal quarter ended March 31, 2009. The company reported net sales dropped 3.4% to $203.5 million.

E. Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc., commented, “Our North American fragrance business is tracking as we had anticipated. We are seeing modest improvement in retail sales performance and are continuing to build market share. This, however, is being offset by weak conditions in our travel retail and distributor markets, reflecting declining passenger traffic, retailer de-stocking and the impact of credit constraints and currency volatility on our distributors, which is expected to continue.”

For the nine months ended March 31, 2009, net sales slipped 5.2% to $857.7 million. The company’s guidance for the fiscal year ending June 30, 2009 is for net sales to decline by 6- 6.5%, according to the report.

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