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Elizabeth Arden Reports 2Q Loss

Elizabeth Arden Inc. on Thursday reported a fiscal second-quarter loss of $56.1 million, after reporting a profit in the same period a year earlier.
Elizabeth Arden products | Source: Elizabeth Arden
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FLORIDA, United States — Elizabeth Arden Inc. on Thursday reported a fiscal second-quarter loss of $56.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Miramar, Florida-based company said it had a loss of $1.90. Earnings, adjusted for non-recurring costs, were 28 cents per share.

The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The cosmetics company posted revenue of $333.6 million in the period, which also fell short of Street forecasts. Analysts expected $370.4 million, according to Zacks.

Elizabeth Arden shares have dropped 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.38, a decline of 36 percent in the last 12 months.

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