"During recessionary times this category is more at risk," Grant says. "Not everyone considers fragrance as part of their beauty regimen."
Classic scents such as Estee Lauder's (EL - Get Report) Beautiful, Chanel's Coco Mademoiselle and No. 5 and Dolce and Gabbana's Light Blue consistently do well, she says. Scott Beattie, chief executive of Britney champion Elizabeth Arden, said on a conference call last month the company was focusing on core fragrances, such as Red Door, Green Tea, 5th Avenue and Pretty.
That said, Britney's still bringing in cash for the company. According to Elizabeth Arden, Britney brands rose 13% in the June quarter compared to the year-earlier period. "More than half of the sales of Britney brands were outside of North America, which is really attributed to her global popularity," said Joel Ronkin, general manager of North American fragrances at Elizabeth Arden, during the same call. Smells like global teen spirit.
-- Reported by Carmen Nobel in Boston.Follow TheStreet.com on Twitter and become a fan on Facebook.