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

Textiles | On 19th Sep 2017

Karl Mayer expands service operations in Asia

Karl Mayer, a world leader in the production of warp knitting and...

Textiles | On 19th Sep 2017

Welspun bags Made in Green label by Oeko-Tex

Welspun, a leading home textiles manufacturer, has been awarded Made...

Courtesy: SGS

Textiles | On 19th Sep 2017

SGS expands testing facilities in Naucalpan, Mexico

SGS has expanded testing facilities in Naucalpan, Mexico, creating a...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

September 2017

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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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