MIAMI, Florida, Dec 6, 2001 -- Elizabeth Arden, Inc. (NASDAQ: RDEN), a leading manufacturer and marketer of prestige beauty products, today announced that it was selected by Walmart.com, a top-ranked Web site and subsidiary of Wal-Mart Stores, Inc. (NYSE: WMT), as its exclusive fragrance vendor.
Commencing November 7, 2001, Elizabeth Arden, Inc. serves as the exclusive direct ship vendor for Walmart.com and is responsible for fulfilling customer orders for the fragrance category that includes over 50 brands. Consumers are able to place orders of products on-line with direct shipment from Elizabeth Arden`s distribution center.
E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden, Inc., commented, "We are thrilled to have been selected by Walmart.com to manage their fragrance category. We have enjoyed a longstanding relationship with Wal-Mart as they are one of our top fragrance customers and this move underscores our strategy of growing the capabilities that we offer our key accounts. Consumers today look for multiple shopping options and we are in a strong position to capitalize on these trends by offering our expertise in category management both within the stores as well as on-line."
With annual sales of $191 billion, Wal-Mart Stores, Inc. operates more than 2,700 discount stores, Supercenters and Neighborhood Markets, and more than 490 SAM`S CLUBS in the United States. Internationally, the company operates more than 1,100 units. The company`s securities are listed on the New York and Pacific stock exchanges under the symbol WMT. More information about Wal-Mart can be located on-line at www.walmartstores.com and www.walmart.com. The SAM`S CLUB Web site can be accessed at www.samsclub.com.
Elizabeth Arden, with annual sales of approximately $800 million, is a leading global marketer and manufacturer of prestige beauty products. The Company`s portfolio of leading brands includes the fragrance brands Red Door, Elizabeth Arden green tea, 5th Avenue, Elizabeth Taylor`s White Diamonds and Passion, White Shoulders, Geoffrey Beene`s Grey Flannel, Halston, Halston Z-14, PS Fine Cologne for Men, Design and Wings by Giorgio Beverly Hills; the Elizabeth Arden skin care line including Ceramides and Millenium; and the Elizabeth Arden cosmetics line.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements, including: the Company`s ability to successfully and cost-effectively integrate acquired businesses and other acquired companies and new brands into the Company; the Company`s ability to retain employees from acquired businesses; the Company`s ability to launch new products and implement its growth strategy; risks of international operations; the substantial indebtedness of the Company; supply constraints or difficulties; the impact of competitive products and pricing; changes in the retail industry; the effect of business and economic conditions; and other risks and uncertainties. More detailed information about these factors is included from time to time in reports filed by the Company with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date hereof. The Company assumes no responsibility to update or revise forward-looking statements contained herein to reflect events or circumstances following the date hereof.
CONTACT:
Elizabeth Arden Inc.
Elizabeth A. Tuttle
305/818-8102
Morgen-Walke Associates
New York Investor Contact:
Shannon Froehlich/Priya Akhoury
212/850-5600
Press Contact:
Laura Novak
212/850-5600
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