Elizabeth Arden Inc. (RDEN) Reports Strong Results For Q2, FY2010

CJS Securities has released an update on Elizabeth Arden Inc. (NASDAQ: RDEN).

Elizabeth Arden posted strong results for the second quarter of FY2010. The company reported EPS of $0.80 which was ahead of CJS’s estimate of $0.70. The mass retail segment saw an increase in sales of 7%. The company continues to gain market share in the mass retail space. Inventories stood at $265 million as against $390 million for the same period last year.

Elizabeth Arden also managed to reduce its debt to $290 million. According to CJS Securities, the company should benefit from a cyclical global recovery over the next 18 months. CJS Securities has maintained a Market Outperform rating for Elizabeth Arden Inc. with a price target of $19.