04.29.09
A leader in its category, minerals giant Bare Escentuals, Inc. posted a decrease in sales for the first quarter ended March 29, 2009.
Net sales for the first quarter of fiscal 2009 slipped 11% to $124.3 million from the same period last year. Net income dropped 5% to $16.7 million.
“As anticipated, the economic environment remained challenging in the first quarter, manifesting in sharp inventory de-stocking among our key retail partners which impacted our first quarter financial results. In this environment, we are focused on managing our business as diligently and prudently as we can while continuing to improve upon the customer experience,” said Leslie Blodgett, company chief executive officer.
“While expense management will remain top-of-mind at Bare Escentuals, we are equally committed to building on our strong brand heritage through strategic investments in new product introductions, customer acquisition and distribution expansion that will position us for long term success.”
Net sales for the first quarter of fiscal 2009 slipped 11% to $124.3 million from the same period last year. Net income dropped 5% to $16.7 million.
“As anticipated, the economic environment remained challenging in the first quarter, manifesting in sharp inventory de-stocking among our key retail partners which impacted our first quarter financial results. In this environment, we are focused on managing our business as diligently and prudently as we can while continuing to improve upon the customer experience,” said Leslie Blodgett, company chief executive officer.
“While expense management will remain top-of-mind at Bare Escentuals, we are equally committed to building on our strong brand heritage through strategic investments in new product introductions, customer acquisition and distribution expansion that will position us for long term success.”
