Net sales for the quarter ending 30 July are $117.2m, amounting to a gain of 14.8% compared to the $102.0m figure reported by the publically traded company for the same period last year. In the US specifically, company product net sales were up too: $28.6m this year, compared to $24.9m last year.
Inter Parfums formal Q2 report is expected in early August.
What’s worked
Company chairman and CEO Jean Madar pointed to a selection of Inter Parfums fragrances that have helped lift company figures in the region so far this year: “International distribution of our first new Abercrombie & Fitch men’s scent, First Instinct, and the Hollister duo, Wave, were major contributors to our top line growth,” Mader tells the press.
“In the second half, distribution of these new scents will continue to roll out to additional International markets,” he says.
What’s more, “Dunhill has been a consistent top performing brand and this reporting period is no exception, with comparable quarter sales up 23%, which was achieved in the absence of a new product launch,” explains Mader in Inter Parfums latest press release.
What’s next
With hopes of seeing continued growth, Inter Parfums is looking to new product launches in the coming months, and there’s much anticipation for the forthcoming Coach scent.
“We have a number of launches coming in the second half, most notably, our first ever Coach scent,” affirms Mader in the release. “In mid-September it will enter 3,000 U.S. doors and should be available in 20,000 doors worldwide by the end of 2017.”
The company anticipates ending the year with net sales in the $500 - $510m range.
And, as Russell Greenberg, executive vice president and chief financial officer explains, Inter Parfums “2016 results include the effect of a pending settlement of a $1.9 million tax assessment with the French Tax Authorities. Excluding the impact of the nonrecurring tax settlement, net income attributable to Inter Parfums, Inc. is expected to be in the range of $1.05 and $1.10 per diluted share. Inclusive of the tax settlement, net income attributable to Inter Parfums, Inc. is expected to come in between $1.01 and $1.06 per diluted share.”