DOW JONES NEWSWIRES

Elizabeth Arden Inc. (RDEN) and Estee Lauder Cos. (EL) cut their expectations for the latest quarter, as well as the year, showing the impact from weak spending at U.S. department stores and increasing struggles abroad on the beauty products concerns.

As such, planned cost cuts will be accelerated at Arden and Lauder. Lauder said the cuts will "diligently" control expenses.

Lauder shares were down 8.4% premarket to $26.60 while Arden was inactive; it closed Thursday at $11.56 a share.

For the fiscal second quarter ended Dec. 31, Arden now sees earnings of 72 cents to 76 cents a share, down from its prior view of $1 to $1.10. Sales were $365 million to $370 million. Analysts surveyed by FactSet projected $425.3 million.

Fiscal-year earnings are now seen coming in between 94 cents to $1.07 a share on sales down 4% to 5%. The company in November cut expectations to earnings of $1.50 to $1.75 a share on sales growth of 6.5% to 8.5%.

Meanwhile, Lauder projected earnings for its fiscal second quarter of 75 cents to 82 cents a share, with sales down 6% on a constant-currency basis. The company in October projected earnings of 97 cents to $1.05 on a 2% to 3% revenue decline.

Lauder also cut its fiscal-year view, projecting earnings of $1.30 to $1.50 a share on revenue flat to down 3%, excluding foreign exchange fluctuations. The company in October lowered expectations to earnings of $2.20 to $2.50 a share, with revenue growing 3% to 5%.

Lauder had been generating solid sales growth despite U.S. softness because of its geographic and product balance. The company has been pushing international growth, as sales in China were especially strong.

Both companies will release their quarterly results Feb. 5.

-By Kevin Kingsbury, Dow Jones Newswires; 201-938-2136; kevin.kingsbury@dowjones.com

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