05.01.15
The discontinuation of the Burberry business put a damper on Inter Parfums’ 2014 sales. The company reported that sales fell more than 10% to $499.3 million, compared to $563.6 million in 2013, but that total included $130.3 million of Burberry brand sales recorded in the first half of the year.
In 2014, net income attributable to Inter Parfums, Inc. was $29.4 million or $0.95 per diluted share as compared to $39.2 million or $1.27 per diluted share in 2013.
“Despite increasingly strong currency headwinds toward the end of the year, we generated impressive sales growth in 2014, thanks to a steady stream of product launches, the contribution of our new brands, and the staying power of several of our best sellers,” said Jean Madar, chairman and CEO of Inter Parfums, Inc. “In fact, in 2014, ongoing brand sales were ahead in all regions; in particular, our three largest markets, Western Europe, North America and Asia, had sales growth of 14.4%, 13.6% and 9.2%, respectively.”
Madar noted that new product introductions are scheduled throughout 2015. Leading off is Extraordinary, the company’s first new scent for the Oscar de la Renta brand, which is launching in May. Inter Parfums’ also has Icon for Dunhill, which recently launched at Harrod’s in London and has been generating impressive sales volume, plus new fragrances for the Montblanc, Lanvin, Jimmy Choo, Van Cleef & Arpels and Anna Sui brands will be added as the year unfolds.
“We are already at work developing programs for our newest brand partners, Abercrombie & Fitch and Hollister, for a 2016 debut,” he added. “In addition, we continue to look for catalysts to accelerate our growth including new brand partnerships, acquisitions and related opportunities.”
Russell Greenberg, executive vice president and CFO of Inter Parfums, Inc. insisted that the outlook for Inter Parfums’ business remains strong, due to the ambitious new product launch schedule in the works for 2015. However, the dollar’s rise against the euro has tempered 2015 net sales guidance to approximately $470 million.
“On the other hand, earnings are positively affected by a strong dollar, because approximately 40% of net sales of our European operations are denominated in US dollars, while almost all costs of our European operations are incurred in euro,” he explained. “We are increasing our net income per share guidance range to $0.98 to $1.00 per diluted share, from our previous guidance of $0.95 to $0.98 per diluted share. Guidance for 2015 assumes the dollar remains at current levels.”
In 2014, net income attributable to Inter Parfums, Inc. was $29.4 million or $0.95 per diluted share as compared to $39.2 million or $1.27 per diluted share in 2013.
“Despite increasingly strong currency headwinds toward the end of the year, we generated impressive sales growth in 2014, thanks to a steady stream of product launches, the contribution of our new brands, and the staying power of several of our best sellers,” said Jean Madar, chairman and CEO of Inter Parfums, Inc. “In fact, in 2014, ongoing brand sales were ahead in all regions; in particular, our three largest markets, Western Europe, North America and Asia, had sales growth of 14.4%, 13.6% and 9.2%, respectively.”
Madar noted that new product introductions are scheduled throughout 2015. Leading off is Extraordinary, the company’s first new scent for the Oscar de la Renta brand, which is launching in May. Inter Parfums’ also has Icon for Dunhill, which recently launched at Harrod’s in London and has been generating impressive sales volume, plus new fragrances for the Montblanc, Lanvin, Jimmy Choo, Van Cleef & Arpels and Anna Sui brands will be added as the year unfolds.
“We are already at work developing programs for our newest brand partners, Abercrombie & Fitch and Hollister, for a 2016 debut,” he added. “In addition, we continue to look for catalysts to accelerate our growth including new brand partnerships, acquisitions and related opportunities.”
Russell Greenberg, executive vice president and CFO of Inter Parfums, Inc. insisted that the outlook for Inter Parfums’ business remains strong, due to the ambitious new product launch schedule in the works for 2015. However, the dollar’s rise against the euro has tempered 2015 net sales guidance to approximately $470 million.
“On the other hand, earnings are positively affected by a strong dollar, because approximately 40% of net sales of our European operations are denominated in US dollars, while almost all costs of our European operations are incurred in euro,” he explained. “We are increasing our net income per share guidance range to $0.98 to $1.00 per diluted share, from our previous guidance of $0.95 to $0.98 per diluted share. Guidance for 2015 assumes the dollar remains at current levels.”