Inter Parfums Sales Rise in 4th Quarter
Fragrance maker Inter Parfums Inc.’s fourth-quarter sales grew 37%, helped by sales at Banana Republic and Gap stores. For 2006, sales rose 17%, to $321.1 million, from $273.5 million in 2005. The company’s previous forecast stood between $305 million and $306 million. As a result, Inter Parfums raised its 2006 earnings guidance to a range of $17.2 million to $17.5 million, ahead of analyst expectations. Fourth-quarter results were helped by the September launch in the U.S. of personal care products sold at Banana Republic stores, as well as existing personal care and holiday programs at the Banana Republic and Gap.
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