Cosmetic giant Elizabeth Arden announced some dismal financial news this week concerning its fiscal fourth quarter results. Net sales are down 30 percent, resulting in a staggering loss of close to $150 million.
And here’s part of the explanation, directly from their report to shareholders:
“While the Company had expected weaker sales comparisons due to the lower level of fragrance launch activity in fiscal 2014 versus fiscal 2013, the decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift fragrances, was steeper than anticipated.”
In other words, The Biebs and Taylor stink – at least, for Elizabeth Arden.
And they’ve got to be pretty bad to be singled out, especially since the company also carries other celebrity fragrances from Britney Spears, Jennifer Aniston and Mariah Carey.
Check out this commercial for Justin’s fragrance, Girlfriend. I think I see the problem…