Elizabeth Arden Said to Hire Goldman for Private-Equity Search

Elizabeth Arden 'Untold' campaign | Source: Elizabeth Arden

NEW YORK, United States — Elizabeth Arden Inc., after attracting takeover interest from South Korea’s LG Household & Health Care Ltd., has hired Goldman Sachs Group Inc. to contact private-equity firms and other potential buyers, a person familiar with the matter said.

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Elizabeth Arden Results, Forecasts Well Below Estimates

MIRAMAR, United States — Elizabeth Arden Inc on Thursday turned in much weaker results and forecasts than expected, as an unnamed retailer ordered less than planned and the beauty products company struggled to make over its namesake brand. Adjusted earnings in the fiscal fourth quarter were less than one-third of analysts' target, ending what Arden Chief Executive E. Scott Beattie called a "transitional year." The company's forecasts for the current quarter and full year also suggested profits will continue to disappoint Wall Street. Its shares fell 9 percent to $36.65 in premarket trading after closing at $40.29 on Wednesday. Elizabeth Arden has been working to overhaul its namesake cosmetics brand for months and is cutting jobs and getting out of unprofitable…

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