NEW YORK–(BUSINESS WIRE)–Inter Parfums, Inc. (NASDAQ GS: IPAR) at present introduced that for the three months ended December 31, 2022, internet gross sales rose to a document $311 million, a 47% enhance from $211 million within the fourth quarter of 2021. At comparable overseas foreign money change charges, consolidated fourth quarter internet gross sales elevated 57% from the fourth quarter of 2021. Of observe, the typical greenback/euro change charges for the 2022 and 2021 fourth quarters have been 1.02 and 1.14, respectively, resulting in a unfavourable 10% overseas change impression.
For the total yr, 2022 internet gross sales rose to $1.087 billion, up 24% from $880 million in 2021 and barely above our newest steering of $1.08 billion. At comparable overseas foreign money change charges, consolidated 2022 internet gross sales elevated 30% from 2021. The common greenback/euro change charges for 2022 and 2021 have been 1.05 and 1.18, respectively, for a unfavourable 7% overseas change impression. The Company plans to announce fourth quarter and full-year 2022 outcomes on February 28, 2023.
Net Sales:
Three Months Ended
December 31,
Year Ended
December 31,
($ in thousands and thousands)
2022
2021
% Change
2022
2021
% Change
European based mostly product gross sales
$197
$136
45%
$744
$663
12%
United States based mostly product gross sales
114
75
52%
343
217
58%
$311
$211
47%
$1,087
$880
24%
Jean Madar, Chairman & Chief Executive Officer of Inter Parfums said, “As we reported earlier this month, the fourth quarter of 2022 was exceptionally robust, ushering in the most effective yr in our historical past. In the ultimate quarter of the yr, our 4 largest manufacturers, Montblanc, Jimmy Choo, Coach and GUESS? generated gross sales positive factors of fifty%, 78%, 82% and 28%, respectively, in comparison with the identical interval one yr earlier. Many of our different perfume manufacturers additionally achieved stellar comparable quarter progress. For our U.S. based mostly operations, Oscar de la Renta and Abercrombie & Fitch grew gross sales by 28% and 16%, respectively, whereas for European operations, Moncler, Kate Spade and Boucheron generated comparable quarter positive factors of 34%, 140% and 25%, respectively.
For 2022 as an entire, our European operations grew gross sales by 26% in euro or 12% in {dollars}. The year-over-year positive factors, in each euro and {dollars}, are all of the extra spectacular contemplating our new product pipeline was dominated by flankers and extensions. However, we did convey to market a number of fully new strains, together with our first ever Moncler duo, Kate Spade Sparkle, Singulier by Boucheron and Open Road and Wild Rose by Coach. In addition to continued gross sales of established strains, the 58% enhance in U.S. based mostly gross sales was additionally pushed by our newer manufacturers, Donna Karan and DKNY, which we took over in August and contributed to 14% of our gross sales progress. Our like-for-like progress of 47% on the steadiness of the portfolio displays the launches of Uomo by GUESS and Alibi by Oscar de la Renta, plus quite a few extensions throughout our mid-sized manufacturers, and the continued success of Ferragamo, which entered its second yr with us within the fourth quarter.”
Mr. Madar continued, “We imagine 2023 goes to be a fantastic yr, a productive yr and a demanding yr. For our European operations, we might be rolling out new pillars for Kate Spade, Coach and Moncler. The return of common seasonal scents for Jimmy Choo and Lanvin; additions to multi-scent collections for Van Cleef & Arpels and Karl Lagerfeld, plus a number of particular applications, extensions and flankers for established perfume households are additionally within the 2023 pipeline. For our U.S. operations, we now have a duo debuting for the Hollister model and our first males’s scent for MCM, plus new flankers for the preferred DKNY Be Delicious, Ferragamo, GUESS?, Oscar de la Renta, Abercrombie & Fitch and Anna Sui collections.
As we now have introduced, we may also use all this yr to organize the takeover of the Lacoste perfume enterprise in January 2024, opening new avenues of progress and growth due to its scale and distinctive positioning as a style sports activities model.”
Affirms Guidance:
Michel Atwood, Chief Financial Officer famous, “As introduced earlier this month, we plan to subject outcomes for the 2022 fourth quarter and full yr on February 28, 2023 and search for 2022 earnings per diluted share to approximate $3.60.
Despite ongoing provide chain disruptions and geopolitical turmoil, the perfume market continues to show robust progress momentum. Therefore, we imagine that our 2023 $1.15 billion internet gross sales steering is achievable as is our steering for earnings per diluted share of $3.75. Our 2023 steering assumes that the typical greenback/euro common change charge stays at present ranges and there is no such thing as a important resurgence of the COVID-19 pandemic.”
About Inter Parfums, Inc.:
Founded in 1982, Inter Parfums, Inc. develops, manufactures and distributes status perfumes and cosmetics because the unique worldwide licensee for 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, S.T. Dupont, Ungaro and Van Cleef & Arpels. Inter Parfums can be the proprietor of Lanvin fragrances and the Rochas model. Through its world distribution community, the Company’s merchandise are bought in over 120 nations.
Forward-Looking Statements:
Statements on this launch which aren’t historic in nature are forward-looking statements. Although we imagine that our plans, intentions and expectations mirrored in such forward-looking statements are cheap, we may give no assurance that such plans, intentions or expectations might be achieved. In some circumstances, you’ll be able to establish forward-looking statements by forward-looking phrases resembling “anticipate,” “imagine,” “may,” “estimate,” “anticipate,” “intend,” “could,” “ought to,” “will,” and “would,” or comparable phrases. You shouldn’t depend on forward-looking statements, as a result of precise occasions or outcomes could differ materially from these indicated by these forward-looking statements on account of numerous essential elements. These elements embrace, however should not restricted to, the dangers and uncertainties mentioned below the headings “Forward Looking Statements” and “Risk Factors” in Inter Parfums’ annual report on Form 10-Ok for the fiscal yr ended December 31, 2021 and the studies Inter Parfums recordsdata on occasion with the Securities and Exchange Commission. Inter Parfums doesn’t intend to and undertakes no responsibility to replace the knowledge contained on this press launch.
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