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Elizabeth Arden exploring strategic alternatives after wider third quarter losses

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Shares of the beauty products maker Elizabeth Arden, Inc. (NASDAQ:RDEN) are clashing in pre-market trading after the company reported third quarter losses that were wider than expected. Domestic and international sales all fell significantly in the quarter. As a result, the company announced that it was exploring strategic alternatives with the help of Goldman Sachs Group Inc (NYSE:GS). In addition, the company will also implement a restructuring plan aimed at cost savings through reducing of overhead and enhancing margins. For its international operations, Elizabeth Arden wants to focus more on distribution deals and local joint ventures going forward.