FOR IMMEDIATE RELEASE

ELIZABETH ARDEN, INC. ANNOUNCES
SECOND QUARTER FISCAL 2015 RESULTS

          New York, New York (February 5, 2015) -- Elizabeth Arden, Inc. (NASDAQ: RDEN), a global prestige beauty products company, today announced financial results for its second fiscal quarter ended December 31, 2014.

SECOND QUARTER RESULTS

          Net sales for the fiscal quarter ended December 31, 2014, were $333.6 million. On an adjusted basis, net sales were $346.2 million, a decrease of 17.2% from the prior year, or 16.0% at constant foreign currency rates. The net loss per diluted share for the fiscal quarter ended December 31, 2014, was $1.90. On an adjusted basis, excluding non-recurring items, net income per diluted share was $0.28. The Company's reported and adjusted results include $2.6 million (pre-tax) of currency transaction losses due to foreign exchange rates. Non-recurring items include $22.6 million of returns, markdowns and other costs associated with the Company's 2014 Performance Improvement Plan (the "2014 Improvement Plan") that was announced on June 23, 2014, and $42.8 million of non-cash asset impairment charges primarily associated with the celebrity fragrance licenses acquired from Give Back Brands in 2012. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release.

          E. Scott Beattie, Chairman, President and Chief Executive Officer, commented, "Our management team, with the full engagement of our Board of Directors and Rhône Capital, is focused on repositioning our brand portfolio and cost structure to return our business to sustainable growth and profitability. Fiscal 2015, as we have stated, is a transitional year as we work to set a strong foundation for the future. In China, we are making tough decisions in support of a new distribution strategy to drive a healthier and more profitable business. Aside from this market and the continued decline in sales of our celebrity fragrances, the remainder of our business, by and large, performed as expected during the quarter. Our balance sheet and cash flow metrics continue to improve, resulting in $37 million in operating cash flow for the first half of our fiscal year. Our performance improvement plans continue to drive down costs and improve efficiencies in our business. Indirect overhead savings remain ahead of budget through the second quarter, and we remain committed to achieving a total of $40 million to $50 million of annualized savings."

SIX MONTHS RESULTS

          Net sales for the six months ended December 31, 2014, were $604.0 million. On an adjusted basis, net sales were $619.2 million, a decrease of 18.7% from the prior year, or 18.3% at constant foreign currency rates. The net loss per diluted share for the six months ended December 31, 2014, was $3.44. On an adjusted basis, excluding non-recurring items and a one-time non-cash accretion charge of $20.1 million related to the issuance of redeemable preferred stock, net loss per diluted share was $0.15. For the six months ended December 31, 2014, the Company's reported and adjusted results include $4.6 million (pre-tax) of currency transaction losses due to foreign exchange rates. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release.

          Net sales of the Company's North America and International segments declined by 18.9% and 17.2% (at constant currency rates), respectively, for the six month period. The sales declines reflect continued proactive tightening of distribution globally, a lower level of new product innovation, and lower sales of celebrity fragrances, which primarily impacted the Company's North American business. Lower sales of Elizabeth Arden branded products resulted primarily from decreased skin care sales due to tightening of distribution and changes to the Company's distribution strategy in China.

OUTLOOK

          The Company currently expects the following for the second half of fiscal 2015:

*	Net sales increases in the International segment versus the prior year period at constant currency rates with continued declines in celebrity fragrances impacting the North American segment;
*	Gross margin expansion due to improved pricing, better sales mix, lower discounts and realization of reduced supply chain and product costs;
*	Lower overall selling, general and administrative expenses, with some reinvestment of 2014 Improvement Plan savings to drive future growth;
*	Improved EBITDA margins from gross margin expansion and lower selling, general and administrative expenses;
*	Stronger cash flow from operations from improved working capital; and
*	Consistent with prior expectations, sequential improvement weighted towards the fourth fiscal quarter.

          The Company notes that it has updated the 2014 Performance Improvement Plan, approved by the Board of Directors on June 23, 2014. This plan involved the exiting of certain unprofitable retail doors and fragrance license agreements, changes in customer, distribution and supply chain relationships, the discontinuation of certain products, the elimination of approximately 12% of the global employee base, and the closing of the Company's Puerto Rico affiliate. At June 30, 2014, the Company estimated that the 2014 Performance Improvement Plan would result in pre-tax charges beginning in the fourth fiscal quarter of 2014 and through fiscal 2015 of $65 million to $72 million, of which $32 million to $36 million were expected to be cash charges. As a result of the Company's continuing reexamination of how it commercially executes its business, during the second fiscal quarter, the Company made changes to its distribution strategy in China. Primarily as a result of this decision, in December 2014, the Company increased the range of estimated pre-tax charges to be incurred through fiscal 2015 and now expects the amounts to be between $92 million and $99 million, of which $42 million to $44 million are expected to be cash charges.

          The Company will host a conference call today, February 5, 2015 at 4:30 p.m. Eastern Time. All interested parties can listen to a live web cast of the Company's conference call by visiting the Investor Relations section of the Corporate tab on the Company's web site at http://ir.elizabetharden.com. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company's web site until March 5, 2015.

Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; and the heritage fragrance brands of Alfred Sung, Britney Spears, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders.

Company Contact:	Marcey Becker Senior Vice President, Finance
Investor/Press Contact:	Allison Malkin/Michael Fox Integrated Corporate Relations (203) 682-8200

ELIZABETH ARDEN, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited)

(In thousands, except percentages and per share data)

		Three Months Ended								Six Months Ended
		December 31,				December 31,				December 31,				December 31,
		2014				2013				2014				2013
Net Sales		$	333,607		$		418,137		$		603,985		$		761,746
Cost of Goods Sold:
	Cost of Sales		188,762				225,236				350,088				418,910
	Depreciation Related to Cost of Goods Sold		1,960				1,987				3,959				3,817
Total Cost of Goods Sold			190,722				227,223				354,047				422,727
Gross Profit			142,885				190,914				249,938				339,019
Gross Profit Percentage			42.8	%			45.7	%			41.4	%			44.5	%
Selling, General and Administrative Expenses			180,205				129,003				294,070				258,375
Depreciation and Amortization			10,795				11,137				21,508				21,836
Total Operating Expenses			191,000				140,140				315,578				280,211
Interest Expense, Net			7,712				5,734				15,468				11,766
Debt Extinguishment Charges			239				--				239				--
(Loss) Income Before Income Taxes			(56,066	)			45,040				(81,347	)			47,042
Provision for Income Taxes			833				10,384				1,057				10,798
Net (Loss) Income			(56,899	)			34,656				(82,404	)			36,244
Net Loss Attributable to Noncontrolling    Interests			(760	)			(297	)			(915	)			(406	)
Net (Loss) Income Attributable to Elizabeth    Arden Shareholders			(56,139	)			34,953				(81,489	)			36,650
Less: Accretion and Dividends on Preferred    Stock			639				--				21,085				--
Net (Loss) Income Attributable to Elizabeth    Arden Common Shareholders		$	(56,778	)	$		34,953		$		(102,574	)	$		36,650
As reported:
Net (Loss) Income Per Basic Share Attributable    to Elizabeth Arden Common Shareholders		$	(1.90	)	$		1.18		$		(3.44	)	$		1.24
Net (Loss) Income Per Diluted Share    Attributable to Elizabeth Arden Common    Shareholders		$	(1.90	)	$		1.16		$		(3.44	)	$		1.21
Basic Shares			29,812				29,649				29,796				29,648
Diluted Shares			29,812				30,129				29,796				30,182
EBITDA (a)		$	(35,599	)	$		63,898		$		(40,412	)	$		84,461
EBITDA margin (a)			(10.7	)%			15.3	%			(6.7	)%			11.1	%
Adjusted to exclude non-recurring costs, net of taxes (1):
Gross Profit		$	160,009		$		200,048		$		269,779		$		351,925
Gross Profit Percentage			46.2	%			47.8	%			43.6	%			46.2	%
Net Income (Loss) Attributable to Elizabeth    Arden Common Shareholders		$	8,517		$		32,650		$		(4,423	)	$		39,402
Net Income (Loss) Per Basic Share Attributable    to Elizabeth Arden Common Shareholders		$	0.29		$		1.10		$		(0.15	)	$		1.33
Net Income (Loss) Per Diluted Share    Attributable to Elizabeth Arden Common    Shareholders		$	0.28		$		1.08		$		(0.15	)	$		1.30
EBITDA (a)		$	31,047		$		57,415		$		32,326		$		84,547
EBITDA margin (a)			9.0	%			13.7	%			5.2	%			11.1	%
(a)    EBITDA is defined as net income attributable to Elizabeth Arden common shareholders plus the provision for income taxes (or net loss attributable to Elizabeth Arden common shareholders, less the benefit from income taxes) plus interest expense, plus depreciation and amortization, plus net income (or net loss) attributable to noncontrolling interest, plus accretion and dividends on preferred stock. EBITDA should not be considered as an alternative to income (loss) from operations or net income (loss) attributable to Elizabeth Arden common shareholders (as determined in accordance with generally accepted accounting principles (GAAP)) as a measure of our operating performance or to net cash provided by operating activities (as determined in accordance with GAAP) or as a measure of our ability to meet cash needs. We believe that EBITDA is a measure commonly reported and widely used by investors and other interested parties as a measure of a company's operating performance and debt servicing ability because it assists in comparing performance on a consistent basis without regard to capital structure, depreciation and amortization, preferred stock accretion or dividends or non-operating factors (such as historical cost). Accordingly, as a result of our capital structure, we believe EBITDA is a relevant measure. This information has been disclosed here to permit a more complete comparative analysis of our operating performance relative to other companies and of our debt servicing ability. EBITDA may not, however, be comparable in all instances to other similar types of measures. We have also disclosed EBITDA as adjusted without giving effect to the Elizabeth Arden brand repositioning, the 2014 Performance Improvement Plan, and restructuring and other non-recurring costs. This disclosure is being provided for comparability purposes because we believe it is meaningful to our investors and other interested parties to understand the EBITDA performance of the Company on a consistent basis without regard to the effect of the Elizabeth Arden brand repositioning, the 2014 Performance Improvement Plan, and restructuring and other non-recurring costs.
The table below reconciles net (loss) income attributable to Elizabeth Arden common shareholders, as determined in accordance with GAAP, to EBITDA and to EBITDA as adjusted: (For a reconciliation of net income (loss) attributable to Elizabeth Arden common shareholders or net income (loss) to EBITDA for prior periods, see the Company's filings with the Securities and Exchange Commission which can be found on the Company's website at www.elizabetharden.com).

(In thousands)	Three Months Ended						Six Months Ended
	December 31, 2014			December 31, 2013			December 31, 2014			December 31, 2013
Net (Loss) Income Attributable to Elizabeth Arden    Arden Common Shareholders	$	(56,778	)	$	34,953		$	(102,574	)	$	36,650
Plus:
Provision for income taxes		833			10,384			1,057			10,798
Interest expense, net		7,712			5,734			15,468			11,766
Depreciation related to cost of goods sold		1,960			1,987			3,959			3,817
Depreciation and amortization		10,795			11,137			21,508			21,836
Net loss attributable to noncontrolling interest		(760	)		(297	)		(915	)		(406	)
Accretion and dividends on preferred stock		639			--			21,085			--
EBITDA		(35,599	)		63,898			(40,412	)		84,461
Non-recurring costs (1)		66,646			(6,483	)		72,738			86
EBITDA as adjusted	$	31,047		$	57,415		$	32,326		$	84,547
(1)   For details see the "Reconciliation of GAAP to Adjusted Amounts" tables below.

      The table below reconciles net cash flow provided by operating activities, as determined in accordance with GAAP, to EBITDA:

(Amounts in thousands)	Six Months Ended
	December 31, 2014			December 31, 2013
Net cash provided by operating activities	$	37,136		$	15,233
Changes in assets and liabilities, net of acquisitions		(47,442	)		56,832
Interest expense, net		15,468			11,766
Amortization of senior note offering and credit facility costs		(842	)		(685	)
Amortization of senior note premium		399			--
Provision for income taxes		1,057			10,798
Deferred income taxes		(344	)		(6,258	)
Amortization of share-based awards		(2,674	)		(3,225	)
Asset impairments		(42,931	)		--
Debt extinguishment charges		(239	)		--
EBITDA	$	(40,412	)	$	84,461

      The tables below reconcile from the amounts reported in accordance with GAAP to such amounts before giving effect to the Elizabeth Arden brand repositioning, the 2014 Performance Improvement Plan, and restructuring and other non-recurring costs. This disclosure is being provided for comparability purposes because we believe it is meaningful to our investors and other interested parties to understand our operating performance on a consistent basis without regard to the effect of the Elizabeth Arden brand repositioning, the 2014 Performance Improvement Plan, and restructuring and other non-recurring costs. The presentation in the table below of the non-GAAP information included in the "Adjusted" columns is not meant to be considered in isolation or as a substitute for results prepared in accordance with GAAP.

ELIZABETH ARDEN, INC. AND SUBSIDIARIES

Reconciliation of GAAP to Adjusted Amounts

(In thousands, except percentages and per share data)

	Three Months Ended									Three Months Ended
	December 31, 2014									December 31, 2013
	Reported			Adjustments			Adjusted			Reported			Adjustments			Adjusted
Net Sales	$	333,607		$	12,582	(a)	$	346,189		$	418,137		$	--		$	418,137
Cost of Goods Sold:
Cost of Sales		188,762			(4,542	)(b)		184,220			225,236			(9,134	)(f)		216,102
Depreciation Related to Cost of Goods Sold		1,960			--			1,960			1,987			--			1,987
Total Cost of Goods Sold	$	190,722		$	(4,542	)	$	186,180		$	227,223		$	(9,134	)	$	218,089
Gross Profit		142,885			17,124			160,009			190,914			9,134	(f)		200,048
Gross Profit Percentage		42.8	%					46.2	%		45.7	%					47.8	%
Selling, General and Administrative Expenses		180,205			(49,283	)(c)		130,922			129,003			15,617	(g)		144,620
Depreciation and Amortization		10,795			--			10,795			11,137			--			11,137
Total Operating Expenses		191,000			(49,283	)		141,717			140,140			15,617	(g)		155,757
Interest Expense, Net		7,712			--			7,712			5,734			--			5,734
Debt Extinguishment Charges		239			(239	)(d)		--			--			--			--
(Loss) Income Before Income Taxes		(56,066	)		66,646			10,580			45,040			(6,483	)		38,557
Provision for Income Taxes		833			768	(e)		1,601			10,384			(4,180	)(h)		6,204
Net (Loss) Income		(56,899	)		65,878			8,979			34,656			(2,303	)		32,353
Net Loss Attributable to Noncontrolling Interests		(760	)		583			(177	)		(297	)		--			(297	)
Net (Loss) Income Attributable to Elizabeth    Arden Shareholders		(56,139	)		65,295			9,156			34,953			(2,303	)		32,650
Less: Accretion and Dividends on Preferred Stock		639			--			639			--			--			--
Net (Loss) Income Attributable to Elizabeth    Arden Common Shareholders	$	(56,778	)	$	65,295		$	8,517		$	34,953		$	(2,303	)	$	32,650
EBITDA	$	(35,599	)	$	66,646	(a)(b)(c)	$	31,047		$	63,898		$	(6,483	)(f)(g)	$	57,415
Net (Loss) Income Per Basic Share Attributable to    Elizabeth Arden Common Shareholders	$	(1.90	)		2.19		$	0.29		$	1.18		$	(0.08	)	$	1.10
Net (Loss) Income Per Diluted Share Attributable to    Elizabeth Arden Common Shareholders	$	(1.90	)		2.18		$	0.28		$	1.16		$	(0.08	)	$	1.08
(a)   Includes $12.6 million of returns and markdowns under our 2014 Performance Improvement Plan primarily due to changes to our distribution strategy in China and other customer and distribution arrangements.
(b)   Includes $4.6 million (non-cash) of inventory write-downs under our 2014 Performance Improvement Plan due to discontinuation of certain products.
(c)   Includes (i) $5.4 million in expenses under our 2014 Performance Improvement Plan primarily comprised of $4.5 million of customer and vendor contract termination costs and $0.9 million of severance, other employee-related expenses and related transition costs associated with the reduction in global headcount positions, and (ii) $43.8 million (non-cash) in asset impairment charges primarily related to the write off of the celebrity fragrance licenses acquired from Give Back Brands and other costs.
(d)   Represents $0.2 million (non-cash) of debt extinguishment costs resulting from the December 2014 amendment to our credit facility.
(e)   On a reported and adjusted basis, our effective tax rate was (1.5)% and 15.1%, respectively. The reported tax rate includes valuation allowances of $21.1 million against our U.S. and Canadian deferred tax assets recorded as a non-cash charge to income tax expense.
(f)   Includes $8.6 million of non-recurring product changeover costs related to the repositioning of the Elizabeth Arden brand and $0.5 million of transition costs incurred related to the elimination of certain sales and other staff positions in the fall of 2013.
(g)   Includes (i) a credit of $17.2 million (non-cash) for the complete reversal of the remaining balance of the contingent liability for potential payments to Give Back Brands, LLC based on our determination during the second quarter of fiscal 2014 that it was not probable that the performance targets related to the licenses acquired for fiscal years 2014 and 2015 would be met, (ii) $0.9 million of restructuring and related transition expenses primarily incurred with respect to the elimination of certain sales and other staff positions in the fall of 2013, and (iii) $0.7 million of non-recurring product changeover expenses related to the repositioning of the Elizabeth Arden brand.
(h)   On a reported and adjusted basis, our effective tax rate was 23.1% and 16.1%, respectively.

ELIZABETH ARDEN, INC. AND SUBSIDIARIES

Reconciliation of GAAP to Adjusted Amounts

(In thousands, except percentages and per share data)

	Six Months Ended									Six Months Ended
	December 31, 2014									December 31, 2013
	Reported			Adjustments			Adjusted			Reported			Adjustments			Adjusted
Net Sales	$	603,985		$	15,261	(a)	$	619,246		$	761,746		$	--		$	761,746
Cost of Goods Sold:
Cost of Sales		350,088			(4,580	)(b)		345,508			418,910			(12,906	)(g)		406,004
Depreciation Related to Cost of Goods Sold		3,959			--			3,959			3,817			--			3,817
Total Cost of Goods Sold	$	354,047		$	(4,580	)	$	349,467		$	422,727		$	(12,906	)	$	409,821
Gross Profit		249,938			19,841			269,779			339,019			12,906	(g)		351,925
Gross Profit Percentage		41.4	%					43.6	%		44.5	%					46.2	%
Selling, General and Administrative Expenses		294,070			(52,658	)(c)		241,412			258,375			12,820	(h)		271,195
Depreciation and Amortization		21,508			--			21,508			21,836			--			21,836
Total Operating Expenses		315,578			(52,658	)		262,920			280,211			12,820	(h)		293,031
Interest Expense, Net		15,468			--			15,468			11,766			--			11,766
Debt Extinguishment Charges		239			(239	)(d)		--
(Loss) Income Before Income Taxes		(81,347	)		72,738			(8,609	)		47,042			86			47,128
Provision for (Benefit from) Income Taxes		1,057			(5,845	)(e)		(4,788	)		10,798			(2,666	)(i)		8,132
Net (Loss) Income		(82,404	)		78,583			(3,821	)		36,244			2,752			38,996
Net Loss Attributable to Noncontrolling Interests		(915	)		583			(332	)		(406	)		--			(406	)
Net (Loss) Income Attributable to Elizabeth    Arden Shareholders		(81,489	)		78,000			(3,489	)		36,650			2,752			39,402
Less:  Accretion and Dividends on Preferred Stock		21,085			(20,151	)(f)		934			--			--			--
Net (Loss) Income Attributable to Elizabeth    Arden Common Shareholders	$	(102,574	)	$	98,151		$	(4,423	)	$	36,650		$	2,752		$	39,402
EBITDA	$	(40,412	)	$	72,738	(a)(b)(c)	$	32,326		$	84,461		$	86	(g)(h)	$	84,547
Net (Loss) Income Per Basic Share Attributable to    Elizabeth Arden Common Shareholders	$	(3.44	)	$	3.29		$	(0.15	)	$	1.24		$	0.09		$	1.33
Net (Loss)Income Per Diluted Share Attributable to    Elizabeth Arden Common Shareholders	$	(3.44	)	$	3.29		$	(0.15	)	$	1.21		$	0.09		$	1.30
(a)   Includes $15.3 million of returns and markdowns under our 2014 Performance Improvement Plan primarily due to changes to our distribution strategy in China and other customer and distribution arrangements.
(b)   Includes $4.6 million (non-cash) of inventory write-downs under our 2014 Performance Improvement Plan due to discontinuation of certain products..
(c)   Includes (i) $8.8 million in expenses under our 2014 Performance Improvement Plan primarily comprised of $4.5 million of customer and vendor contract termination costs, $4.2 million of severance, other employee-related expenses and related transition costs associated with the reduction in global headcount positions and (ii) $43.8 million (non-cash) in asset impairment charges primarily related to the write off of the celebrity fragrance licenses acquired from Give Back Brands and other costs.
(d)   Represents $0.2 million (non-cash) of debt extinguishment costs resulting from the December 2014 amendment to our credit facility.
(e)   On a reported and adjusted basis, our effective tax rate was (1.3)% and 55.6%, respectively. The reported tax rate includes valuation allowances of $28.5 million against our U.S. and Canadian deferred tax assets recorded as a non-cash charge to income tax expense.
(f)   Includes a $20.1 million of accretion for the change in redemption value related to the issuance of preferred stock in August 2014. The full accretion was recognized immediately and recorded in the first quarter of fiscal 2015.
(g)   Includes $12.4 million of non-recurring product changeover costs related to the repositioning of the Elizabeth Arden brand and $0.5 million of transition costs incurred related to the elimination of certain sales and other staff positions in the fall of 2013.
(h)   Includes (i) a credit of $17.2 million (non-cash) for the complete reversal of the remaining balance of the contingent liability for potential payments to Give Back Brands based on our determination during the second quarter of fiscal 2014 that it was not probable that the performance targets related to the acquired celebrity fragrance licenses for fiscal years 2014 and 2015 would be met, (ii) $3.3 million of restructuring and related transition expenses primarily incurred with respect to the elimination of certain sales and other staff positions in the fall of 2013, and (iii) $1.1 million of non-recurring product changeover expenses related to the repositioning of the Elizabeth Arden brand.
(i)   On a reported and adjusted basis, our effective tax rate was 23.0% and 17.3%, respectively.

SEGMENT NET SALES

          The table below is a comparative summary of our net sales by reportable segment for the three and six months ended December 31, 2014 and 2013:

(In thousands)	Three Months Ended					% Decrease				Six Months Ended					% Decrease
	December 31, 2014			December 31, 2013		GAAP		Constant Rates (1)		December 31, 2014			December 31, 2013		GAAP		Constant Rates (1)
Segment Net Sales
North America	$	227,275		$	269,647	(15.7	)%	(15.3	)%	$	399,634		$	494,306	(19.2	)%	(18.9	)%
International		118,914			148,490	(19.9	)%	(17.1	)%		219,612			267,440	(17.9	)%	(17.2	)%
Total	$	346,189		$	418,137	(17.2	)%	(16.0	)%	$	619,246		$	761,746	(18.7	)%	(18.3	)%
Reconciliation:
Segment Net Sales	$	346,189		$	418,137	--		--		$	619,246		$	761,746	--		--
Less:
Unallocated sales       returns and       markdowns (2)		(12,582	)		--	--		--			(15,261	)		--	--		--
Net Sales	$	333,607		$	418,137	(20.2	)%	(19.0	)%	$	603,985		$	761,746	(20.7	)%	(20.3	)%

PRODUCT CATEGORY NET SALES

          The table below is a comparative summary of our net sales by product category for the three and six months ended December 31, 2014 and 2013:

(In thousands)		Three Months Ended				% Decrease				Six Months Ended				% Decrease
		December 31, 2014		December 31, 2013		GAAP		Constant Rates (1)		December 31, 2014		December 31, 2013		GAAP		Constant Rates (1)
Product Category Net Sales
	Elizabeth Arden   Brand	$	107,140	$	142,158	(24.6	)%	(22.0	)%	$	207,191	$	262,682	(21.1	)%	(20.2	)%
	Celebrity,   Heritage,   Designer and   Other Fragrances		226,467		275,979	(17.9	)%	(17.4	)%		396,794		499,064	(20.5	)%	(20.3	)%
Total		$	333,607	$	418,137	(20.2	)%	(19.0	)%	$	603,985	$	761,746	(20.7	)%	(20.3	)%

          The table below is a comparative summary of our adjusted net sales by product category for the three and six months ended December 31, 2014 and 2013:

(In thousands)		Three Months Ended				% Decrease				Six Months Ended				% Decrease
		December 31, 2014		December 31, 2013		GAAP		Constant Rates (1)		December 31, 2014		December 31, 2013		GAAP		Constant Rates (1)
Product Category Net Sales
	Elizabeth Arden   Brand	$	118,416	$	142,158	(16.7	)%	(14.0	)%	$	220,848	$	262,682	(15.9	)%	(14.9	)%
	Celebrity,   Heritage,   Designer and   Other Fragrances		227,773		275,979	(17.5	)%	(16.9	)%		398,398		499,064	(20.2	)%	(20.0	)%
Total		$	346,189	$	418,137	(17.2	)%	(16.0	)%	$	619,246	$	761,746	(18.7	)%	(18.3	)%

(1)    Constant currency information compares results between periods assuming exchange rates had remained constant period-over-period and excludes gains and losses from foreign currency contracts in all periods. We calculate constant currency information by translating current-period results using prior-year GAAP foreign currency exchange rates. The gains and/or losses from foreign currency contracts were not material for all periods presented.

(2)    Amounts for the three and six months ended December 31, 2014, reflect returns and markdowns under our 2014 Performance Improvement Plan.

ELIZABETH ARDEN, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET DATA

(Unaudited)

(In thousands)	December 31, 2014		June 30, 2014		December 31, 2013
Cash	$	94,144	$	56,308	$	43,894
Accounts Receivable, Net		188,380		160,806		275,349
Inventories		288,320		338,826		344,888
Property and Equipment, Net		111,357		116,806		110,785
Exclusive Brand Licenses, Trademarks and Intangibles, Net		229,644		275,004		289,809
Goodwill		31,067		31,607		31,607
Total Assets		1,011,223		1,061,653		1,196,665
Short-Term Debt		58,900		80,418		97,950
Current Liabilities		266,006		274,031		360,134
Long-Term Liabilities		411,788		411,080		281,877
Long-Term Debt		356,033		356,432		250,000
Redeemable Noncontrolling Interest		4,638		5,553		6,615
Redeemable Preferred Stock		50,000		--		--
Shareholders' Equity		278,791		370,989		548,039
Working Capital		345,513		333,727		376,861

SUPPLEMENTARY CASH FLOW INFORMATION

(Unaudited)

(In thousands)

	Six Months Ended
	December 31, 2014			December 31, 2013
Net cash provided by operating activities	$	37,136		$	15,233
Net cash used in investing activities		(16,908	)		(28,248	)
Net cash provided by (used in) financing activities		20,322			(4,712	)
Net increase (decrease) in cash and cash equivalents		37,836			(17,780	)

Cautionary Note Regarding Forward-Looking Information and Factors That May Affect Future Results           The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. This press release and other written and oral statements that we make from time to time contain such forward-looking statements that set out anticipated results based on management's plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective products, future operating or financial performance or results of current and anticipated products, sales efforts, expenses and/or cost savings, interest rates, foreign exchange rates, the outcome of contingencies such as legal proceedings, and financial results. A list of factors that could cause our actual results of operations and financial condition to differ materially is set forth below, and these factors are discussed in greater detail under Item 1A -- "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended June 30, 2014:
*	our ability to implement our 2014 Performance Improvement Plan, our ability to realize the anticipated benefits of our 2014 Performance Improvement Plan and/or changes in the timing of such benefits;
*	whether we will incur higher than anticipated costs, expenses or charges related to the implementation of our 2014 Performance Improvement Plan or any additional restructuring or cost savings activities, and/or changes in the expected timing of such costs, expenses or charges;
*	decisions or actions resulting from our continued reexamination of our business, including implementing any additional restructuring activities, and the timing and amount of any costs, expenses or charges that may be incurred as a result, or the benefits anticipated to result from such decisions or actions;
*	our ability to realize benefits from the strategic investment made by affiliates of Rhône Capital L.L.C. in the Company;
*	factors affecting our relationships with our customers or our customers' businesses, including the absence of contracts with customers, our customers' financial condition, reduction in consumer traffic or demand, and changes in the retail, fragrance and cosmetic industries, such as the consolidation of retailers and the associated closing of retail doors as well as retailer inventory control practices, including, but not limited to, levels of inventory carried at point of sale and practices used to control inventory shrinkage;
*	risks of international operations, including foreign currency fluctuations, hedging activities, economic and political consequences of terrorist attacks, disruptions in travel, unfavorable changes in U.S. or international laws or regulations, diseases and pandemics, and political instability in certain regions of the world;
*	our reliance on license agreements with third parties for the rights to sell most of our prestige fragrance brands;
*	our reliance on third-party manufacturers for substantially all of our owned and licensed products and our absence of contracts with suppliers of distributed brands or raw materials and components for manufacturing of owned and licensed brands;
*	delays in shipments, inventory shortages and higher supply chain costs due to the loss of or disruption in our distribution facilities or at key third-party manufacturing or fulfillment facilities that manufacture or provide logistic services for our products;
*	our ability to respond in a timely manner to changing consumer preferences and purchasing patterns and other international and domestic conditions and events that impact retailer and/or consumer confidence and demand, such as domestic or international recessions or economic uncertainty;
*	our ability to protect our intellectual property rights;
*	the success, or changes in the timing or scope, of our new product launches, advertising and merchandising programs;
*	our ability to successfully manage our inventories;
*	the quality, safety and efficacy of our products;
*	the impact of competitive products and pricing;
*	our ability to (i) implement our growth strategy and acquire or license additional brands or secure additional distribution arrangements, (ii) successfully and cost-effectively integrate acquired businesses or new brands, (iii) successfully expand our geographic presence and distribution channels, and (iv) finance our growth strategy and our working capital requirements;
*	our level of indebtedness, our ability to realize sufficient cash flows from operations to meet our debt service obligations, preferred stock dividend requirements, and working capital requirements, and restrictive covenants in our revolving credit facility, second lien facility and the indenture for our 7 3/8% senior notes;
*	changes in product mix to less profitable products;
*	the retention and availability of key personnel;
*	changes in the legal, regulatory and political environment that impact, or will impact, our business, including changes to customs or trade regulations, laws or regulations relating to ingredients or other chemicals or raw materials contained in products or packaging, or accounting standards or critical accounting estimates;
*	the success of our global Elizabeth Arden brand repositioning efforts and global business strategy;
*	the impact of tax audits, including the ultimate outcome of the pending Internal Revenue Service examination of our U.S. federal tax returns for the fiscal years ended June 30, 2010, 2011 and 2012, changes in tax laws or tax rates, and our ability to utilize our deferred tax assets and/or the establishment of valuation allowances related thereto;
*	our ability to effectively implement, manage and maintain our global information systems and maintain the security of our confidential data and our employees' and customers' personal information, including our ability to successfully and cost-effectively implement the last phase of our Oracle global enterprise system;
*	our reliance on third parties for certain outsourced business services, including information technology operations, logistics management and employee benefit plan administration;
*	the potential for significant impairment charges relating to our trademarks, goodwill, investments in other entities or other intangible assets, including licenses, that could result from a number of factors, including such entities' or brands' business performance or downward pressure on our stock price; and
*	other unanticipated risks and uncertainties.
We caution that the factors described herein and other factors could cause our actual results of operations and financial condition to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

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