Inter Parfums Inc. expects to grow net sales between 8 and 10 percent for fiscal 2017, the company said.
That would put net sales for the company at between $550 million and $560 million, with earnings per share between $1.20 to $1.24. Inter Parfums SA, the Paris-based subsidiary of Inter Parfums Inc., expects sales to reach $420 million in its unit, gaining about 8 percent, the company said.
“Our 2017 guidance range implies a year-over-year increase in net sales of between 8 percent and 10 percent, based upon the high end of our 2016 net sales guidance of $510 million,” said Inter Parfums chief financial officer Russell Greenberg. “Similarly, we are looking for 2017 net income per diluted share attributable to Inter Parfums Inc. to increase between 13 percent and 17 percent, using $1.06 per diluted share, the high end of our 2016 guidance, as a base.”
“For U.S. operations, we will continue to expand global distribution for the Dunhill brand, opening new territories for the very successful Icon family,” said Inter Parfums chief executive officer Jean Madar. “In addition, we have a new flanker debuting in the spring for the Desire fragrance pillar called Extreme. We will also launch an Abercrombie & Fitch fragrance, First Instinct for women in the early spring, while Hollister has a Wave flanker duo in the works, which we are calling Wave 2, planned for launch later in the second quarter. For Oscar de la Renta, we have a new scent for women under development for a launch in the spring.”
In Europe, several launches are also expected to drive sales. “Our first new product for Rochas, a women’s fragrance, will be introduced early in the year, initially in about 12 countries,” Madar said. “Also this winter, Lanvin Modern Princess, which recently debuted in France, will rollout in wider international distribution. A winter launch is planned for our new multiscent collection for Boucheron, and come this spring, we have important new initiatives unveiling for the Jimmy Choo signature scent for women and Jimmy Choo Man, with a brand extension for each. A fragrance duo is in the pipeline for the Karl Lagerfeld brand next summer, and our first men’s scent for Coach will unveil in the fall.”
The company release its fiscal 2017 guidance shortly after reporting earnings for the quarter, where net sales gained 13.4 percent to $138.9 million, and net income was up 14.2 percent to $16.2 million.