Britney Spears & Hilary Duff Contribute To Elizabeth Arden Downgrade

Brean Murray, Carret & Co. analyst Gary Giblen issued a downgrade on Elizabeth Arden on Friday (January 12), citing the company’s several brand development disappointments and category and/or brands “at risk”, including the “Hilary Duff/With Love” line and negative publicity from Britney Spears jeopardizing her perfume lines with the company. Giblen added that the brand/category challenges and evident loss of the “magic touch” not only constrain short-term numbers, but also diminish the attraction of Arden as a buyout candidate. Shares dropped 2.1% on Friday to $18.67.