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Sales plummet at Elizabeth Arden, Goldman Sachs on board to help

  • Elizabeth Arden (RDEN) reports sales in North America fell 23% to $121.9M in FQ3. A decrease in fragrance launches was a factor.
  • Gross profit rate fell 520 bps to 42.5% during the period.
  • The company says it has engaged Goldman Sachs to help it explore strategic alternatives.
  • Shares of RDEN are halted until 4:30 EST.
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