Inter Parfums’ Sales Surge in the Third Quarter
Inter Parfums, Inc.’s net sales for the third quarter rose 21% to a record $123.5 million. For the first nine months of 2008, net sales rose 28% to $345.8 million. Jean Madar, chairman and chief executive officer, noted that third quarter sales by the European-based operations rose 23% to $108.8 million. Two major new product launches, Van Cleef & Arpels’ Feerie and Jeanne Lanvin, were responsible for much of the top line growth. Additionally, Burberry fragrance sales have continued to increase with this year’s growth driven by the successful worldwide launch of the new women’s line Burberry The Beat. But in comparison to the big gains posted in Europe, third quarter sales by U.S. based operations rose a modest 4% to $14.7 million.
Shiseido Merges French and European Operations
Shiseido Co. has merged its European and French subsidiaries into one unit. The move is part of a three-year restructuring plan, according to the company.
“Through the merger, Shiseido is seeking to strengthen marketing functions and infrastructure, boost Shiseido brand presence in the European market and improve profitability,” the company said in a statement. “The company aims to share expertise and improve execution by integrating overlapping functions at both companies. The merger will be particularly beneficial in terms of marketing by enabling Shiseido to plan and execute a unified European marketing strategy.”
The merged entity is known as Shiseido Europe.
Regis Posts Slight Gain in 2Q
Regis Corporation, a leader in the $170 billion hair care industry, reported that consolidated revenues increased 1.9% in the first fiscal quarter of 2009 to a record $680 million, compared to $668 million a year ago.
Sale of Cederroth Unit Boosts Alberto-Culver
Alberto-Culver Co.’s fiscal fourth-quarter profit more than quadrupled as it recorded a one-time gain of $110.7 million from the sale of its Cederroth consumer products business to a private equity firm. The maker of hair care and other consumer products earned $147.1 million, compared to $36.5 million a year ago. Revenue rose 7.3% to $386 million. For the full year, the company’s profit nearly tripled to $228.2 million. Revenue rose 9.7% to $1.44 billion.
Parlux’s Sales Soar in Second
Parlux Fragrances, Inc. announced that net sales for the quarter ended Sept. 30, 2008 are estimated to be $53 million, a 43% increase over the $37 million reported for same period of the prior year. In a related announcement, Zacks has rated both Parlux and Revlon a “buy.” The company noted that Parlux had a great second quarter as the Jessica Simpson and Paris Hilton fragrances took off, alluding to the fact that branded fragrances apparently are still a hot commodity going into the holiday season. The company has a forward P/E of 10.15.
Meanwhile Zacks noted that Revlon is paying down debt and focusing on its core business. The company has also seen an increase in sales despite a tough economy, noted Zacks.
Consumer Product Sales Post Big Gains at J&J
Spurred in part by good gains from Neutrogena, Johnson & Johnson’s third quarter worldwide consumer product sales jumped 13.1% to $4.1 billion. Growth from operations accounted for 9.4% of the gain and a positive impact from currency added 3.7%. Domestic sales increased 11.2%, while international sales increased 14.7%; 8.1% from operations and 6.6% from currency.
Sales results reflected the strong performance of Listerine antiseptic mouthrinse, international sales of baby care products and the skin care lines of Neutrogena, Clean & Clear and Aveeno. Also contributing to growth were sales of Dabao, the leading moisturizer in China, which J&J acquired as part of the recently completed purchase of Beijing Dabao Cosmetics Co., Ltd., a personal care products company.