BEAUTY CARE

Wet n Wild releases new 2009 cosmetic collection

BY Anna Mcgrath

CITY OF INDUSTRY, Calif. Wet n Wild introduced a series of new products for nails, lips and face to keep consumers looking good without breaking the bank.

The company’s latest additions include Natural Wear Lip Shimmer, Craze Lacquer, Intuitive Blend Shade Adjusting Foundation and Natural Wear Mineral Foundation & Veil.

All of the products are available for under $6 at mass market retailers nationwide, part of its 2009 cosmetic collection.

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Report: Rimmel gets new spokeswoman for eye color line

BY Antoinette Alexander

NEW YORK Cosmetics brand Rimmel reportedly has selected pop singer Ayumi Hamasaki as its first-ever representative in Asia, according to published reports.

Hamasaki’s debut advertising will promote Rimmel’s eye color line. The ad is will begin appearing around Asia in August.

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Bare Escentuals slips in Q2

BY Antoinette Alexander

SAN FRANCISCO Bare Escentuals, a manufacturer of mineral-based cosmetics, posted a dip in second-quarter sales and profits.

Sales for the second quarter ended June 28 totaled $132.5 million, a decrease of 4% from $138.5 million in the year-ago period.

Net income for the quarter totaled $19.8 million, or 21 cents per diluted share, in line with at least one analyst’s estimate and a penny above the Street. This compares with $24.7 million, or 26 cents per share, in the year-ago period.

“Despite the overall revenue shortfall, we were actually impressed with the 5.2% year-over–year growth in the North American retail segment (59% of revenue).  Not only was this better than our estimate (essentially flat), but it was also substantially better than the 8% decline for the entire prestige cosmetics category during the quarter,” stated analyst William Chappell of SunTrust Robinson Humphrey in a research note. “We believe this growth was driven by: 1) the relative stability of the foundation segment of the category which represents a large part of Bare’s revenue base; 2) enhanced marketing programs such as 500K sample shipments during the quarter; and 3) the success of the lower price point kits which have gained traction with more price conscious consumers.”

As a result, Chappell raised the earnings per share estimates slightly by a penny for 2009 and 2010 to 86 cents and 96 cents, respectively.

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