Perfume Maker Elizabeth Arden Blames Poor Q4 Financial Results on Justin Bieber Scent
By Vittorio Hernandez | August 21, 2014 8:51 AM EST
Justin Bieber's misbehaving ways continue to haunt the Canadian singer. On Tuesday, shareprices of scent maker Elizabeth Arden tumbled down 24 per cent for its fourth quarter, while sales plummeted 28.4 per cent from the past 12 months to $191.7 million.
Pop singer Justin Bieber is escorted out of the Turner Guilford Knight Correctional Center in Miami. (Reuters)
The firm blamed its poor financial performance on the steeper-than-expected drop in sale of its Justin Bieber and Taylor Swift perfumes, causing the company not to meet its target revenue of $241,64 million.
The company's sales for the entire fiscal year 2014 dipped 13.4 per cent to $1.164 billion, over 10 per cent decline forecast by analysts.
The Justin Bieber-branded scents of Elizabeth Arden include Girlfriend, Someday and The Key, while that of Swift are Taylor and Wonderstruck.
According to the New York Post, part of the weak sales of the perfume maker is a cutback on non-essentials such as celebrity-branded fragrances by lower-income customers, but it did not discount the possibility that some fans are shunning from the perfume brands of these two celebrities because of Bieber's bratty behaviour and Swift's diva attitude.
To contact the editor, e-mail:
Most Popular Slideshows
Join the Conversation
- Russia's New Tactical Nuclear Weapons Program Growing Confident Against the US: Talks of World War III
- Apple and Google Engage in Thermonuclear War, New Google Translate Chat App in the Works
- Kobani ISIS Fighter Sends Out Desperate Message For Prayers And Support: Euphoria Turns Into Desperation As Kurds Advance
- Chris Algieri’s Battered Face Trends On Social Media
- Home Depot Early Black Friday 2014 Sale Up To Nov. 29, 2014 Includes Special Buys On Appliances Such As Samsung Refrigerators, Whirlpool Electric Ranges And Hoover Vacuum Cleaners
- Highest Paid NBA Players 2014: NBA Stars Who Earn More Than LeBron James
- Walmart Offers the Best 2014 Black Friday Deals on iPhone 6, iPad Ai2 & Other Gadgets – Reports