×
76 968
Fashion Jobs
ECCO
Third Keyholder
Permanent · CABAZON
ECCO
Third Keyholder
Permanent · CABAZON
NORDSTROM
Asset Protection - Agent - San Bernardino Fulfillment Center
Permanent · San Bernardino
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Jordan Creek
Permanent · West Des Moines
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Polaris Fashion Place
Permanent · Columbus
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Rivertown Crossings
Permanent · Grandville
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Fair Oaks
Permanent · Fairfax
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Westfarms
Permanent · West Hartford
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Countryside
Permanent · Clearwater
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Brand Representative, Mall of America
Permanent · Bloomington
ABERCROMBIE KIDS STORES
Abercrombie Kids - Brand Representative, Sono Collection
Permanent · Norwalk
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Las Americas po
Permanent · San Diego
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Twelve Oaks
Permanent · Novi
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Lakewood
Permanent · Lakewood
ABERCROMBIE KIDS STORES
Abercrombie Kids - Brand Representative, Washington Square
Permanent · Tigard
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Brand Representative, Opry Mills
Permanent · Nashville
GILLY HICKS STORES
Gilly Hicks - Brand Representative, Woodfield
Permanent · Schaumburg
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Triangle
Permanent · Raleigh
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Wyoming Valley
Permanent · Wilkes-Barre
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Annapolis
Permanent · Annapolis
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Palisades
Permanent · West Nyack
L'OREAL GROUP
Manager-Finance
Permanent · New York
Published
May 11, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Interparfums makes solid progress with earnings in Q1

Published
May 11, 2021

International fragrance company Inter Parfums, Inc. (Interparfums) achieved net income of $27.7 million in the first quarter ended March 31, 2020, up 175% from $10.1 million in the prior-year period. Diluted earnings per share for the quarter were $0.87, compared to $0.32 in the same period in the previous year.


Oscar de la Renta "Alibi" was launched by Interparfums in Q1 - Photo: Interparfums

 
As pointed out by Interparfums chairman and CEO in a release published on Monday, due to the outbreak of Covid-19, “comparisons with the first quarter of last year are not especially meaningful.” The fragrance group therefore also provided data comparing its latest quarterly results with the equivalent period in 2019.
 
Compared to Q1 2019’s total of $18.9 million, the company’s Q1 2021 net income increased 47%, while diluted EPS rose 45% from $0.60.

As previously reported, Interparfums’ net sales for the first quarter of 2021 came to $198.5 million, rising 37% from $144.8 million in the prior-year period and 11% from $178.2 million in Q1 2019.
 
According to Madar, the company made particular progress in regions where stores have been able to reopen due to the lifting of lockdowns. This includes North America and Asia, where quarterly sales rose 56% and 34% year over year, respectively. The group also saw strong gains in the Middle East, where sales increased 32%; Eastern Europe, were they shot up 125%, and Central and South America, which achieved 22% growth.
 
Following the introduction of renewed restrictions due to the arrival of a third wave of Covid-19 in the region, Interparfums’ revenues in Western Europe did not made the same progress in the quarter.
 
Commenting on the group’s plans moving forwards, Madar explained, “we continue to believe that our business model, financial resources, distribution network, and talented staff could support a substantially larger business. To accelerate our pace of growth, we have been actively pursuing prospective license agreements with brands who are seeking a new partner to jumpstart their fragrance franchise.”
 
Looking towards the end of the year, the executive explained that its new product pipeline for the rest of 2021 is dominated by brand extensions for fragrances including Montblanc “Explorer,” “Coach Dreams” and Jimmy Choo “Urban Hero,” as well as for the Oscar de la Renta “Bella,” Hollister “Wave” and Anna Sui “Fantasia” lines. Entirely new fragrance launches planned for this year include a women’s line for Lanvin, an Abercrombie & Fitch duo, the “Driven” men’s collection for Dunhill and a male grooming collection for Guess.
 
In the first quarter, Interparfums launched the Oscar de la Renta “Alibi,” Guess “Bella Vita” and Hollister “Canyon Escape” fragrances, as well as the debut scent for MCM.
 
Highlighting the company’s unexpectedly high percentage sales growth in Q1, Interparfums EVP and CFO Russell Greenberg explained that “as we resume more normalized operations, S,G&A expenses should likewise normalize, especially promotional and advertising expenses which should approach historical levels of 21% of net sales.”
 
On Monday, Interparfums also affirmed its full-year financial guidance for 2021, reporting that it expects to achieve annual net sales of approximately $700 million, resulting in diluted EPS of $1.65.

Copyright © 2023 FashionNetwork.com All rights reserved.