Cosmetic firm Elizabeth Arden sees its share price drop by 24%, after it revealed a plunge in sales of celebrity-linked perfumes.
Sales were particularly hit by a decline in interest for scents released under the names of Justin Bieber and Taylor Swift.
The company said net sales for the fourth quarter to the end of June dropped by 28%, to $191.7m (£115m).
Elizabeth Arden was founded in 1910 and markets perfumes of a number of famous names, including Elizabeth Taylor and Britney Spears.
It said retailers had reduced the number of perfumes ordered in the three-month period.
Original headline: Celeb Perfumes Leave Smell For Elizabeth Arden
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OCTOBER 31, 2014
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