Home / Knowledge / News / We are extremely pleased by turnaround in H2 - Mr Madar
We are extremely pleased by turnaround in H2 - Mr Madar
29
Jan '10
Inter Parfums, Inc. announced that net sales for the final quarter of 2009 were approximately $113.6 million, a 13% increase from $100.4 million, in the fourth quarter of 2008. At comparable foreign currency exchange rates, net sales for the fourth quarter were up 3%. Thus, 2009 net sales of $410.1 million declined 8% from $446.1 million in 2008. At comparable foreign currency exchange rates, net sales for 2009 declined 7%. Inter Parfums plans to issue final results for the 2009 fourth quarter and year on or about March 10, 2010.

Discussing European-based operations, Jean Madar, Chairman & CEO of Inter Parfums noted, “Although we were looking for a strong fourth quarter, the 16% sales increase was even better than we expected and was positively affected by changes in foreign currency exchange rates. For the year as a whole, there was only a modest decline in sales, all the more respectable during the protracted global economic downturn and in the absence of major women's fragrance launches. In local currency, Burberry fragrance sales declined only 2% in 2009, thanks to the launch of Burberry The Beat for men and solid performances by the brand's existing lines. Sales of Lanvin fragrance, the second largest brand in the portfolio, rose 4%, reflecting further gains by the Eclat d'Arpège, reorders for the Jeanne Lanvin line and the launch of the Lanvin L'Homme Sport line. For the 2010, we have several major fragrance line launches in the pipeline including our first for Jimmy Choo, and the addition of Montblanc to our fragrance portfolio in July. We also have the debut of a complete Burberry make-up line which we believe will open up new opportunities for the brand's strategic development.”

On the subject of U.S.-based operations, Mr. Madar went on to say, “We are extremely pleased by the turnaround in the second half of 2009. Comparable fourth quarter sales were off only slightly from the fourth quarter of 2008. As expected, second half comparisons were considerably better than the first half due to new product launches for Brooks Brothers, Banana Republic, the debut of bebe fragrance in both domestic and international markets and the introduction of a New York & Company scent. Work is underway on additional products and expanded distribution, and hopefully we may have new specialty retail agreements for 2010.”

Russell Greenberg, Executive Vice President & Chief Financial Officer, stated, “We again confirm our 2009 guidance for net income attributable to Inter Parfums, Inc. of approximately $22.3 million or $0.74 per diluted share. As we announced in November, we look forward to a resumption of growth in sales and profitability in 2010 as indicated by our current guidance of $440.0 million in net sales resulting in net income attributable to Inter Parfums, Inc. of approximately $23.5 million, or $0.78 per diluted share. Guidance assumes the dollar remains at current levels.”

Inter Parfums also announced that its Board of Directors has approved a 100% increase in the Company's quarterly cash dividend to $0.065 per share, which brings the annual cash dividend to $0.26 per share, beginning with the next dividend distribution. Mr. Madar noted, “The decision to increase our dividend underscores the Board's confidence in our Company's outlook.”


Must ReadView All

India mulls new schemes for jobs, textile clusters

Apparel/Garments | On 25th Apr 2018

India mulls new schemes for jobs, textile clusters

India is mulling over alternative schemes for jobs and manufacturing...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search