NEW YORK — The launch of Burberry Brit helped boost Inter Parfums Inc.’s third-quarter sales, prompting the firm’s second elevation of earnings estimates in three months.
The firm said it now expects net income for the year to reach between $12.7 million and $12.9 million versus $9.4 million last year and an earlier forecast of $11.6 million to $11.8 million. If the dollar remains at current levels, sales are expected to rise to between $177 million and $179 million, versus last year’s $130.4 million and the earlier forecast, issued in July, of $165 million to $168 million.
Third-quarter results are scheduled to be released on Nov. 3, but the firm said a preliminary tally for the period ended Sept. 30 indicated a 53 percent sales increase to $57 million, bringing year-to-date sales to $136 million, a 46 percent increase over the prior-year period. In local currencies, sales rose 44 percent in the quarter and 34 percent in the nine months.
In a statement, Jean Madar, chairman and chief executive, said higher expectations for the second half of the year also reflect the “excellent reception” afforded the Diane von Furstenberg Beauty prestige cosmetics line, which launched at Henri Bendel last month.
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)