Fragrance marketers are still trying to make “scents” in the troubled economy. Inter Parfums, Inc. posted mixed results for the fourth quarter and year ended Dec. 31, 2008. In the fourth quarter, net sales declined nearly 16% to $100.4 million; while sales in European-based operations slipped 14% to $83.2 million, and U.S.-based operations dropped 24% to $17.2 million.
For the full year 2008, net sales rose 15% to $446.1 million. European-based operations were up 17% to $386.4 million, while U.S.-based operations rose 1% to $59.7 million. As a result of the global economic crisis, as well as the continued strength of the U.S. dollar relative to the euro, the company is revising its 2009 guidance to net sales of $390 million, with net income of approximately $21 million, assuming the dollar remains at current levels.
New Report Shows Highs and Lows at Inter Parfums
Published November 30, -0001
blog comments powered by Disqus