Net Sales of $1.45 Billion and Earnings Per
Diluted Share of $5.15
Inter Parfums, Inc. (NASDAQ GS: IPAR) (“Inter Parfums” or the
“Company”) today announced that it expects 2024 net sales of $1.45
billion, resulting in earnings per diluted share of $5.15. This
represents a 12% increase in net sales and an 8% increase in
earnings per diluted share compared to 2023 guidance of $1.3
billion in net sales and $4.75 in earnings per diluted share.
Guidance for 2023 and 2024 assumes that the average dollar/euro
exchange rate remains at current levels.
Jean Madar, Chairman & Chief Executive Officer of Inter
Parfums, Inc. noted, “With ongoing momentum in the fragrance
market, coupled with innovative blockbusters, enrichment from line
extensions, and incremental sales from our newest brands, Roberto
Cavalli and Lacoste, 2024 has all the attributes of another record
year for us.
“For our European based operations, we have a number of new
programs in the works. For Montblanc, we have an extension of the
Legend line in early 2024, followed by a new four-scent premium
collection. There are also several innovations lined up for Jimmy
Choo, including the I Want Choo and Flash fragrance lines. We will
also enrich Coach Dreams with a new extension in the fall.
“Our mid-sized brands will also welcome new entrants throughout
the year, including a line extension for Van Cleef & Arpels.
For the brands we own, we have a line extension for Rochas
Mademoiselle, and a limited edition Lanvin Éclat d’Arpège set for
the spring.
“For our United States based operations, our largest brand
within the group, GUESS, has a new four-scent collection, Amore, in
the pipeline, in addition to an extension for the Uomo franchise
and a new blockbuster debuting in 2024. With only one year under
our expertise, Donna Karan/DKNY fragrance sales performed very well
in 2023, and brand sales are projected to further increase,
particularly with the recent DKNY brand extension and planned
launch of a new blockbuster for DKNY during the summer of 2024.
“Abercrombie & Fitch Fierce distribution is proceeding as
planned in Europe. In early 2024, we will initiate Phase 2,
targeting Asia-Pacific and Latin America. Additionally, a new
blockbuster duo, Passion, will join the Abercrombie & Fitch
fragrance family.
“With shipments of Cavalli and Lacoste fragrances beginning in
January, their combined fragrance sales should add approximately 7%
to our topline growth in 2024. For Lacoste, our go-forward
strategies are well underway, and we plan to relaunch the brand’s
original fragrances in 2024 and roll-out our first blockbuster in
2025. We plan to launch our first extension for Cavalli during the
summer, in addition to hair and body fragrance mists and a Just
Cavalli duo.
“We will be boosting Ferragamo’s fragrance lines with two
extensions planned for distribution in early 2024. We’ve also
reinforced our commitment to our Italian operations by designating
our Florence, Italy office as a distribution hub for all of our
brands, in both our European based operations and United States
based operations, beginning in 2024.
“For full-year 2024, we expect our established brands will
produce approximately 5% organic growth across our global business,
inclusive of travel retail.”
Michel Atwood, Chief Financial Officer of Inter Parfums, Inc.
concluded, “While our gross margin in 2024 should broadly
approximate those of 2023, the rate of 2024 sales growth exceeds
that of earnings, primarily because of launch investment associated
with our two newest brands, Cavalli and Lacoste. Furthermore, the
Lacoste non-cash amortization expense of the acquisition cost
should reduce earnings per diluted share by approximately
$0.11.
“Going into the new year, once we have further visibility into
2023 holiday sell-out trends and how 2024 has started post-holiday,
we will provide an update on our expectations, if warranted. As we
continue on the positive trajectory in achieving yet another
record-level sales and earnings year, we are confident in our
expertise to drive further growth and earnings power.”
About Inter Parfums, Inc.
Operating in the global fragrance business since 1982, Inter
Parfums, Inc. produces and distributes a wide array of prestige
fragrance and fragrance-related products under license agreements
with brand owners. The Company manages its business in two
operating segments, European based operations, through its 72%
owned subsidiary, Interparfums SA, and United States based
operations.
The portfolio of prestige brands includes Abercrombie &
Fitch, Anna Sui, Boucheron, Coach, Donna Karan, DKNY, Ferragamo,
Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade,
MCM, Moncler, Montblanc, Oscar de la Renta, Roberto Cavalli,
Ungaro, and Van Cleef & Arpels, whose products are distributed
in over 120 countries around the world through an extensive and
diverse network of distributors. Inter Parfums, Inc. is also the
registered owner of several trademarks including Lanvin and
Rochas.
Forward-Looking Statements
Statements in this release which are not historical in nature
are forward-looking statements. Although we believe that our plans,
intentions and expectations reflected in such forward-looking
statements are reasonable, we can give no assurance that such
plans, intentions or expectations will be achieved. In some cases,
you can identify forward-looking statements by forward-looking
words such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “intend,” “may,” “should,” “will,” and “would,” or
similar words. You should not rely on forward-looking statements,
because actual events or results may differ materially from those
indicated by these forward-looking statements as a result of a
number of important factors. These factors include, but are not
limited to, the risks and uncertainties discussed under the
headings “Forward Looking Statements” and “Risk Factors” in Inter
Parfums’ annual report on Form 10-K for the fiscal year ended
December 31, 2022 and the reports Inter Parfums files from time to
time with the Securities and Exchange Commission. Inter Parfums
does not intend to and undertakes no duty to update the information
contained in this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231121846947/en/
Inter Parfums, Inc. Michel Atwood Chief Financial Officer (212)
983-2640 www.interparfumsinc.com
or
The Equity Group Inc. Investor Relations Counsel Karin Daly
(212) 836-9623 / kdaly@equityny.com Linda Latman (212) 836-9609 /
llatman@equityny.com www.theequitygroup.com
Interparfums (NASDAQ:IPAR)
Graphique Historique de l'Action
De Fév 2025 à Mar 2025
Interparfums (NASDAQ:IPAR)
Graphique Historique de l'Action
De Mar 2024 à Mar 2025
