In what is not news to you, a scant number of people want to emit the
odor of juiced-up puppy-eyes Justin Bieber. Or rather, people don’t
want to buy Justin Bieber’s bottled notions of female desirability —
perfumes named Girlfriend, Someday, and Next Girlfriend (because he does
understand that things don't always work out).
odor of juiced-up puppy-eyes Justin Bieber. Or rather, people don’t
want to buy Justin Bieber’s bottled notions of female desirability —
perfumes named Girlfriend, Someday, and Next Girlfriend (because he does
understand that things don't always work out).
Elizabeth Arden Inc reported the biggest quarterly loss in its
history due to a steeper-than-anticipated fall in sales of celebrity
perfumes, particularly the Justin Bieber and Taylor Swift brands.
The
company said quarterly sales had plunged 28.4%, the steepest fall in a
decade, and warned that weak sales would continue for the next six
months, sending its shares plunging more than 20% in premarket trading.
Elizabeth
Arden, which also sells cosmetics and other celebrity perfume brands
such as Elizabeth Taylor and Britney Spears, said shipments had fallen
in the fourth quarter to 30 June as retailers bought fewer perfumes.
The
company, which launched a restructuring programme in June to revive
sales, also said on Tuesday that Rhone Capital LLC had agreed to buy
$50m in redeemable preferred stock as well as warrants to buy 2.5m
shares, representing about 7.6% of the outstanding stock.
Elizabeth
Arden, also known for its skincare brands such as Ceramide and Prevage,
said in June it would exit low-return brands. The move pushed away a
potential buyer, South Korea's LG Household & Health Care.
Elizabeth Arden's net sales fell to $191.7m in the fourth quarter from $267.6m a year earlier.
The
net loss attributable to Elizabeth Arden widened to $155.9m. Up to
Monday's close of $19.61, the company's stock had lost more than 44%
this year. The stock fell to $15.40 in premarket trading.
history due to a steeper-than-anticipated fall in sales of celebrity
perfumes, particularly the Justin Bieber and Taylor Swift brands.
The
company said quarterly sales had plunged 28.4%, the steepest fall in a
decade, and warned that weak sales would continue for the next six
months, sending its shares plunging more than 20% in premarket trading.
Elizabeth
Arden, which also sells cosmetics and other celebrity perfume brands
such as Elizabeth Taylor and Britney Spears, said shipments had fallen
in the fourth quarter to 30 June as retailers bought fewer perfumes.
The
company, which launched a restructuring programme in June to revive
sales, also said on Tuesday that Rhone Capital LLC had agreed to buy
$50m in redeemable preferred stock as well as warrants to buy 2.5m
shares, representing about 7.6% of the outstanding stock.
Elizabeth
Arden, also known for its skincare brands such as Ceramide and Prevage,
said in June it would exit low-return brands. The move pushed away a
potential buyer, South Korea's LG Household & Health Care.
Elizabeth Arden's net sales fell to $191.7m in the fourth quarter from $267.6m a year earlier.
The
net loss attributable to Elizabeth Arden widened to $155.9m. Up to
Monday's close of $19.61, the company's stock had lost more than 44%
this year. The stock fell to $15.40 in premarket trading.
Yes, there is a precipitous drop in the purchase of famous-people-approved smells Elizabeth
Arden just had a record-breaking quarterly loss — and the company
points to the perfumes of Justin Bieber and Taylor Swift as laggers.
Arden just had a record-breaking quarterly loss — and the company
points to the perfumes of Justin Bieber and Taylor Swift as laggers.
How fickle the people are, in their desires for the ineffable imitation of their idols' odors.
- The Cut
No comments:
Post a Comment