Bare Escentuals Boosts Profits, Trims Sales Outlook
November 3rd, 2008 at 12:13pm |
Bare Escentuals Inc. posted a nearly 12 percent gain in third-quarter profits, but took measures to brace for a bumpy end to 2008, including trimming its workforce by 10 percent.
During the mineral makeup firm’s earnings call Thursday evening, chief executive officer Leslie Blodgett said of the layoffs, “As much as this has been a difficult decision, we’re confident that this change will allow us to be more responsive to our customers and best position the company for long-term success.”
Bare Escentuals Inc.’s profits for the quarter ended Sept. 28 gained 11.8 percent to $22.9 million, or 25 cents a diluted share, from $20.5 million, or…
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