Inter Parfums earnings, sales fall in 2009
This article was originally published in The Rose Sheet
Executive Summary
Despite a strong fourth quarter, earnings and sales at New York-based fragrance firm Inter Parfums fell for the full year. Earnings slipped 6% to $22.4 mil. and sales declined 8.2% to $409.5 mil. for the year, though the performance was "better than anticipated" considering the global economic downturn and the absence of a major women's fragrance launch, EVP and CFO Russell Greenberg notes in a release. Fourth-quarter sales were up 13% to $112.9 mil. and profit increased 7% to $5.5 mil. Firm plans introduction of Burberry Sport fragrance for men and women in 2010, as well as a Burberry cosmetics collection. New women's scents are slated to roll out from firm's Lanvin and Paul Smith brands, as are new scents for both men and women under the Van Cleef & Arpels label. Launch of first Jimmy Choo fragrance is expected in early 2011