Jul 23, 2009
Inter Parfums second quarter sales beat Street; backs '09 view
Jul 23, 2009
July 23 (Reuters) - Fragrance maker Inter Parfums Inc (IPAR.O) posted a 11 percent fall in second-quarter sales that still beat market view, and backed its full-year outlook as it expects a stronger second half.
La Tête perfume from Inter Parfums Inc
The company said its North American market, which represents a significant portion of its specialty retail sales, has been especially weak.
The company said it was planning to launch new products in its Brooks Brothers and Banana Republic lines and bebe fragrance in both domestic and international markets in the second half.
"We anticipate that these new activities together with existing distribution should stem the sales decline for our U.S. operations," Chief Executive Jean Madar said in a statement.
Inter Parfums, whose brands include Burberry, Van Cleef & Arpels, Paul Smith, S.T. Dupont and Christian Lacroix, expects full-year earnings of 70 cents a share on sales of $390 million.
For the second quarter, net sales came in at $88.6 million. Analysts were looking for $83.8 million, according to Reuters Estimates.
Shares of the New York-based company closed at $7.88 Thursday 23 July on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Vinu Pilakkott)
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