Discussing European-based operations Jean Madar, Chairman & CEO of Inter Parfums noted, “The favorable trends of the first quarter continued into the second quarter with strong performances across our brand portfolio. Compared to the same periods in 2011, Burberry sales rose 34% for the current second quarter and 21% for the first half on strong growth of established fragrances, including Burberry Body, which launched in late 2011. While there were no major launches this year, Lanvin fragrance sales increased 13% for the quarter and year-to-date due to continuing gains by Eclat d’Arpège and the steady performances by Jeanne Lanvin and Marry Me! With Montblanc Legend as the catalyst, Montblanc brand sales rose 72% in the second quarter and 75% through the first half. We are likewise delighted by the momentum of Jimmy Choo fragrances that began in 2011 with the Eau de Parfum, and continued in 2012 with the Eau de Toilette, resulting in a 13% and 42% increase in brand sales for the second quarter and first half, respectively. Some of the smaller brands in our portfolio are also generating significant year-to-date gains, including Boucheron, which had a more than fivefold increase in sales, and S.T. Dupont with a 48% sales increase compared to the first half of 2011.”
He continued, “Top line growth has been especially strong in North America, the Middle East, Asia, and South America where year-to-date sales rose 56%, 40%, 22%, and 35%, respectively. We have also seen significant sales growth in Eastern Europe with first half gains of 25%. Despite the slowdown in consumer spending in selected countries in Western Europe, first half sales were 10% ahead of the same period last year.”
On the subject of U.S.-based operations, Mr. Madar went on to say, “As was the case in the first quarter, second quarter sales benefited from the inclusion of Anna Sui fragrance sales and the launch of our first Nine West fragrance, Love Fury. Additionally we brought a number of new products to market during the quarter including: Miss Madison by Brooks Brothers, Wishes & Dreams for bebe, and a new men’s scent, Wildbloom Blue for Banana Republic. Finally, international distribution of the U.S. specialty retail brands in our portfolio has been an ongoing success and an important contributor to our top line growth.”
Raises 2012 GuidanceRussell Greenberg, Executive Vice President & Chief Financial Officer stated, “Based upon our performance thus far this year, our expectations for the second half and the strength of the dollar relative to the euro, which was 15% higher on June 30, 2012, as compared to June 30, 2011, we are increasing our 2012 sales guidance to $632 million. We are likewise increasing our guidance for net income attributable to Inter Parfums, Inc. to approximately $35.9 million or $1.17 per diluted share. Our guidance assumes the dollar remains at current levels.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV