NEW YORK — Robust sales growth boosted Inter Parfums Inc.’s bottom line in the second quarter.
For the three months ended June 30, the New York-based fragrance maker said profits surged 52.4 percent to $2.9 million, or 15 cents a diluted share. That compares with last year’s earnings of $1.9 million, or 10 cents. Earnings per share beat the Wall Street estimate by 2 cents.
Net sales for the quarter also grew by more than half, or 50.8 percent, to $41.4 million from $27.4 million a year ago.
“Burberry, S.T. Dupont and Paul Smith fragrance products were responsible for the dramatic rise in second-quarter prestige product sales,” said chief executive officer Jean Madar in a statement. “We are also experiencing solid growth in our mass market sales, as we enlarge our product lines and our distribution channels.”
For the first half of the fiscal year, earnings increased 38.2 percent to $5.4 million, or 27 cents, from $3.9 million, or 20 cents, last year. Net sales for the six-month period climbed 41.3 percent to $79 million from $55.9 million in the prior-year period.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)