Colgate posts Q4 results
NEW YORK — Colgate announced on Thursday that it ended the year with a quarter of “strong growth on both top and bottom lines.”
Net sales for the quarter totaled $4.36 billion, up 2% compared with the year-ago period. Organic sales grew 6.5%.
Net income, which included after tax charges related to its 2012 restructuring program, totaled $564 million during the quarter or 60 cents per diluted share. Excluding the items, net income in the fourth quarter was $697 million or 75 cents per diluted share.
Net income in the year-ago period, which also included after tax charges, was $598 million or 63 cents per diluted share.
“We are delighted to have ended the year with another quarter of strong growth on both the top and bottom lines. For the 11th consecutive quarter, operating profit, net income and diluted earnings per share all increased versus the year-ago period,” stated Ian Cook, chairman, president and CEO. “The strong 6.5% organic sales growth was led by the emerging markets, where organic sales grew a robust 10.5%. Our strong top-line momentum should continue into 2014, fueled by new products across all categories and in all geographies.”
In North America, net sales rose 2.5%, as organic sales rose 3%. Operating profit in North America rose 5% to $241 million.
New product launches planned for the first quarter include Colgate Optic White manual toothbrush + built-in whitening pen, Colgate Optic White Platinum Whiten and Protect toothpaste and Speed Stick Gear deodorants with new DryCore technology.
Elizabeth Arden taps former P&G exec to serve as CFO
NEW YORK — Elizabeth Arden has appointed former Procter & Gamble executive Rod Little to serve as EVP and CFO, effective April 1.
Since 2009, Little has served as CFO for P&G’s Global Salon Professional division, a $2 billion global business, and led a 200 person finance organization in over 20 countries. He was also a member of P&G’s Global Beauty Leadership Council. Prior to that, Little was the finance leader for P&G’s North America Salon Professional division. He joined P&G in 1997, after serving in the U.S. Air Force for five years, and progressed at P&G through numerous corporate finance and divisional finance leadership roles of increasing responsibility.
Along with significant global beauty experience, Little brings recent international experience having lived and worked outside of the United States for the past five years, managing specific divisional growth initiatives in Europe and Asia. As the finance leader for Wella after its acquisition by P&G, Little was responsible for the integration of that division.
“Rod is a seasoned financial executive with a strong background in the beauty market and significant international experience. We believe that he is particularly well-equipped to work with our senior executive team to help us return to systematic sales growth and gross margin improvement. Having led a large global finance organization within P&G, Rod earned a reputation as a strong, ‘hands on’ organizational leader and an excellent collaborator with commercial teams,” E. Scott Beattie, chairman, president and CEO, said.
Fragrances developed by Ashley Olsen, Mary-Kate Olsen launch at Sephora
SAN FRANCISCO— Following a sneak peek pre-sale in December, Elizabeth and James Nirvana White and Elizabeth and James Nirvana Black, the two new fragrances for the fashion brand launched by celebrities Ashley Olsen and Mary-Kate Olsen, are now available for sale in all North American Sephora stores.
The Elizabeth and James Nirvana fragrances were developed by the Olsens, Kendo for Sephora and Batallure Beauty. The fragrances, created in tandem with Firmenich, include Elizabeth and James Nirvana White, a floral musk with notes of peony, muguet and musk, and Elizabeth and James Nirvana Black, a woody scent with notes of violet, sandalwood and vanilla. The architectural lines, rich gold accents and distinctive texture of the bottles, designed by the Olsens, are stylistically inspired by a vintage keepsake and mirror the design elements seen throughout the Elizabeth and James brand.
Elizabeth and James Nirvana fragrances are each available in three different sizes — 30 ml ($55), 50 ml ($75) and a rollerball ($22) — exclusively available at all Sephora stores and Sephora.com.