Elizabeth Arden Loss Narrows, But Is Still Wider Than Expected

Elizabeth Arden Inc. reported a fiscal fourth-quarter net loss that narrowed to $108.7 million, or $3.65 a share, from $155.9 million, or $5.24 a share, in the same period a year ago. Excluding non-recurring items, such as costs associated with its performance improvement plan, the adjusted per-share loss was $1.57, wider than than the FactSet consensus for a loss of 65 cents. Net sales fell to $175.5 million from $191.7 million, as a 14% drop in North America sales offset a 4% increase in international sales. Adjusted sales declined 6.2% to $188.7 million. The FactSet consensus was for revenue of $188 million. For fiscal 2016, the beauty products company expects net sales to increase over 2015. The stock, which was halted for news dissemination, has tumbled 52% year to date, while the S&P 500 has gained 2%.