Inter Parfums Inc. saw bottom- and top-line gains in the second quarter and said it has a pile of cash ready to reinvent for post-Burberry life next year.
Net income attributable to Inter Parfums rose 20.3 percent to $6 million, or 20 cents a share, from $5 million, or 16 cents, a year earlier. Sales for the quarter ended June 30 rose 20.2 percent to $145.6 million from $121.1 million.
“With strong performances across our prestige brand portfolio, we achieved an 18 percent increase in European-based sales,” said Russell Greenberg, executive vice president and chief financial officer. “U.S.-based operations achieved 37 percent sales growth, with the inclusion of Anna Sui fragrance sales since the start of the year accounting for much of that gain.”
“We have planned for this eventuality and face this new chapter in our history with confidence,” said Jean Madar, chairman and chief executive officer. “We expect to begin 2013 with nearly $250 million in cash and shareholders’ equity of approximately $375 million, placing us in an excellent financial position to support the growth of existing brands and further enhance our growth potential by seeking to add new brands to our portfolio either on a proprietary basis or as a licensee.”
The beauty firm’s licensed businesses include Lanvin, Jimmy Choo, Gap, Brooks Brothers and others.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styles by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)