US cosmetics firm posts loss

Kasmira Jefford
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ELIZABETH ARDEN, the US-listed beauty products company, slumped to a loss in the third quarter of the year despite posting a 10.5 per cent surge in sales to $264.5m (£170m) boosted by the launch of celebrity-branded perfumes named after Justin Bieber and Nicki Minaj.

The company, which is also known for its skincare products such as Prevage anti-aging creams, yesterday reported a $1.3m net loss from the quarter to 31 March, down from a $2.2m profit in the same period last year, due to costs and acquisitions made last year.