Fourth-quarter sales at New York-based Inter Parfums Inc. dropped 15.7 percent to $100.6 million from $119.4 million in the same period a year ago, but edged out Wall Street analysts’ estimates of $98.3 million, according to Yahoo Finance.
At constant exchange, sales during the quarter ended Dec. 31 were down 9 percent.
For the full year, sales were up 14.6 percent to $446.3 million, from $389.6 million in 2007, a 12 percent increase at comparable foreign exchange rates.
The firm expects to report fourth-quarter and annual results in mid-March and reaffirmed its previous guidance for full-year net income of about $25 million, or 81 cents a diluted share.
Meanwhile, Inter Parfums SA, the Paris-based subsidiary of Inter Parfums Inc., reported 2008 sales on target at 265 million euros, or $389.9 million at average exchange for the calendar year, a 9 percent increase over 2007.
At constant exchange, sales increased 14 percent to 276 million euros, or $406 million. However, the firm warned of a tough first quarter ahead. It stated that, faced with a stiff year-on-year comparison — revenues since early 2008 were boosted by the successful launch of Burberry The Beat scent — and the difficult current economic environment, “2009 first-quarter sales will significantly contract in relation to last year’s first quarter.”
Inter Parfums, however, confirmed its full-year 2009 objective of 5 percent sales gains, and said it will continue to explore external growth opportunities.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
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“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
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BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
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