Inter Parfums Inc. increased its fourth-quarter profits and gross margin despite a slight dip in sales for the period.
During the three months ended Dec. 31, net income attributable to the company rose 14.5 percent to $6.2 million, or 20 cents a diluted share, 1 cent better than analysts, on average, had expected. In the year-ago period, net income was $5.5 million, or 18 cents.
Sales backtracked 0.4 percent to $112.4 million from $112.9 million in the 2009 period as gross margin rose to 59 percent of sales from 56.1 percent a year ago.
In addition to the European launches of the Montblanc and Boucheron scents, which are expected to expand the firm’s prestige business, Jean Madar, chairman and chief executive officer, told analysts during a conference call Wednesday that entries by Gap and Banana Republic have met with success.
He also mentioned that Nine West scents are to begin rolling out next month followed by fashion designer Betsey Johnson’s scents next year. The firm’s much-hyped Burberry color cosmetics collection could reach roughly 50 more points of sale this year, he told analysts.
Launches in 2012 will include a new Burberry fragrance family and Paul Smith fragrances for men and women.
For the full year, net income grew 18.9 percent to $26.6 million, or 87 cents a diluted share, from $22.4 million, or 74 cents, in 2009. Revenues expanded 12.4 percent to $460.4 million from $409.5 million.
Russell Greenberg, executive vice president and chief financial officer, said the firm is “on track” to achieve its previously issued guidance for the year of net income of about 98 cents a diluted share on sales of about $525 million.
The firm increased its quarterly dividend to 8 cents a share, payable April 15 to shareholders of record March 31, from its previous mark of 6.5 cents.
Meanwhile, Inter Parfums Inc.’s Parisian subsidiary, Inter Parfums SA, posted 2010 net profits of 26.8 million euros, or $35.6 million, up 18.6 percent from its 2009 profits.
Operating profit increased 25.2 percent to 42.2 million euros, or $56 million. As reported, Inter Parfums SA reported sales last year rose 17.9 percent to 305.7 million euros, or $405.9 million. At constant exchange, sales grew 18.3 percent.
Dollar figures are converted from euros at average exchange rates for the 12-month period.
The company reiterated its 2011 guidance regarding sales of approximately 350 million euros, or $486.4 million at current exchange.
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)
The @cfda has shifted the dates of #NYFW, with Men’s showing on February 5 through February 7, and Women’s will directly follow, running from February 8 through 14. The preliminary schedule will be released on the CFDA’s web site in the next few days, but Mark Beckham, VP of marketing for the CFDA, revealed that @rafsimons will be back to close the men’s-specific part of the week with a show on February 7 #wwdfashion (📷: Kelly Taub)
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Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion