RDEN Stock Falls After Ugly Quarter at Elizabeth Arden
The company's celebrity perfume sales were down
Elizabeth Arden (RDEN) had a very poor fourth quarter that sent RDEN stock plummeting on Tuesday.
The cosmetics and fragrance company’s sales dropped 28.4% for the quarter and 13.4% for the fiscal year 2014. Elizabeth Arden’s struggles stemmed mainly from disappointing celebrity perfume sales.
The Taylor Swift and Justin Bieber brands suffered the most in perfume sales. The company also reported a decline in sales for the year caused by retailers reducing inventory, heavier discounts and the trimming of key brands.
Elizabeth Arden suffered a 14% drop in sales in North America.
RDEN stock is down about 22.75% Tuesday afternoon.
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Article printed from InvestorPlace Media, http://investorplace.com/2014/08/rden-stock-elizabeth-arden/.
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