LONDON — International Flavors & Fragrances Inc. Thursday reported higher fourth-quarter earnings despite a drop in sales.
For the three months ended Dec. 31, net income was up 3.7 percent to $49 million, or 62 cents a diluted share, from $47.2 million, or 58 cents a year ago. Stripping out nonrecurring items, earnings per share dropped to 50 cents from 53 cents but beat analysts estimates, as published by Yahoo Finance, of 46 cents. Sales dipped 2.6 percent to $539.1 million from $553.5 million.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)