10.26.10
Inter Parfums, Inc. today announced that net sales for the third quarter of 2010 2.8% to $120.9 million.
Net sales for the first nine months of 2010 increased 17.3% to a record $348.0 million.
Discussing European-based operations, Jean Madar, Chairman & CEO of Inter Parfums stated, “The strong performance we achieved in the first half of the year has continued into the second half.Burberry fragrance sales were up 18% year-to-date in local currency. The global rollout of Burberry Sport fragrances was an important contributor, as were the growing sales of the enduring classic Burberry scents and the newer ones like Burberry Brit and Burberry The Beat."
According to Madar, through the first nine months of 2010, Lanvin fragrance sales were up 31% in local currency thanks to both established fragrances like Eclat d’Arpège and Jeanne Lanvin, as well as to the launch of the Marry Me line.Van Cleef & Arpels brand sales rose 33% year-to-date, in great part due to the spring launch of Oriens for women and the fall launch of Midnight in Paris for men.Additionally, third quarter and year-to-date sales included small contributions from the select distribution of the Burberry Beauty make-up collection and the integration of the Montblanc fragrance business.
On the subject of U.S.-based operations, Madar pointed out, “Following the 71% increase in second quarter sales, we experienced certain inventory shortfalls during the third quarter.As such, certain shipments that were planned for the third quarter are expected to ship in the fourth quarter.We are looking for strong comparable quarter gains in sales by U.S.-based operations in the final quarter of the year.”
Russell Greenberg, Executive Vice President & CFO, stated, “We are once again raising our guidance for 2010, based upon our year-to-date results and expectations for the final quarter of 2010.We expect 2010 results to set a new record with net sales of approximately $455 million and net income attributable to Inter Parfums, Inc. reaching $25.5 million or $0.84 per diluted share. Our 2010 revised guidance assumes the dollar remains at current levels.”
Net sales for the first nine months of 2010 increased 17.3% to a record $348.0 million.
Discussing European-based operations, Jean Madar, Chairman & CEO of Inter Parfums stated, “The strong performance we achieved in the first half of the year has continued into the second half.Burberry fragrance sales were up 18% year-to-date in local currency. The global rollout of Burberry Sport fragrances was an important contributor, as were the growing sales of the enduring classic Burberry scents and the newer ones like Burberry Brit and Burberry The Beat."
According to Madar, through the first nine months of 2010, Lanvin fragrance sales were up 31% in local currency thanks to both established fragrances like Eclat d’Arpège and Jeanne Lanvin, as well as to the launch of the Marry Me line.Van Cleef & Arpels brand sales rose 33% year-to-date, in great part due to the spring launch of Oriens for women and the fall launch of Midnight in Paris for men.Additionally, third quarter and year-to-date sales included small contributions from the select distribution of the Burberry Beauty make-up collection and the integration of the Montblanc fragrance business.
On the subject of U.S.-based operations, Madar pointed out, “Following the 71% increase in second quarter sales, we experienced certain inventory shortfalls during the third quarter.As such, certain shipments that were planned for the third quarter are expected to ship in the fourth quarter.We are looking for strong comparable quarter gains in sales by U.S.-based operations in the final quarter of the year.”
Russell Greenberg, Executive Vice President & CFO, stated, “We are once again raising our guidance for 2010, based upon our year-to-date results and expectations for the final quarter of 2010.We expect 2010 results to set a new record with net sales of approximately $455 million and net income attributable to Inter Parfums, Inc. reaching $25.5 million or $0.84 per diluted share. Our 2010 revised guidance assumes the dollar remains at current levels.”