Elizabeth Arden beats hopes

Cosmetics maker Elizabeth Arden posted higher-than-expected quarterly earnings, boosted by strong sales overseas and at duty-free shops, and raised its full-year sales goal yesterday. The company’s travel retail and distributor business, which includes duty-free shops, saw sales soar 31 per cent, due to strength in Asia and Latin America. Elizabeth Arden’s sales rose 14 per cent in Europe and six per cent in North America, the company’s biggest market. Elizabeth Arden said net earnings were $4.9m, or 17 cents per share, in its fiscal first quarter ended 30 September.