Inter Parfums Q3 sales up 31%, lifts earnings guidance

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Inter Parfums announced on Tuesday net sales for the third quarter surged 31%, on double-digit growth in its North America, Western Europe, and Asian markets, thanks to a recovering China.


The New York-based fragrance giant said net sales totalled $368 million for the three months ending September 30. North America continued to be the firm’s largest market, with sales increasing 29% in the third quarter compared to the prior year period, with Western Europe following at 24% sales growth. Asia, its third largest market, performed well with net sales increasing 20% over that same period. 

​On the stellar sales performance, net income attributable to Inter Parfums increased 28% to $53 million, or $1.66 per diluted share, in the third quarter, compared to $41 million, or $1.30 per diluted share, in the prior year period.

“We continued to see favorable trends across the robust fragrance industry, high demand for our brands, and success in our launches, extensions, and distribution, all of which combined to produce record quarterly net sales and very strong earnings,” said Jean Madar, chairman and chief executive officer of Inter Parfums.

During the July-September period, Inter Parfums said it increased its “sell-out in China, namely on Coach, Montblanc and Ferragamo, enabling us to manage down our stock-in-trade levels, which should provide a favorable tailwind in 2024.”

The company said it expects to benefit from its recent license acquisitions of Roberto Cavalli and Lacoste, beginning in 2024, with Roberto Cavalli fragrance products scheduled to start shipping in January 2024, with extensions planned for mid-summer next year. The Lacoste license will take effect in January 2024.

Looking ahead, Inter Parfums reaffirmed ​its FY2023 net sales guidance of $1.3 billion, or growth of 20% from FY2022, despite geopolitical tensions and the very high fourth quarter 2022 base.

It also increased its earnings per diluted share guidance to $4.75, previously guided to $4.55, or growth of 26% from $3.78 for FY2022.

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