85
Fashion Jobs
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
Published
May 9, 2023
Reading time
2 minutes
Download
Download the article
Print
Text size

Inter Parfums profit surges 53% on record-breaking first quarter

Published
May 9, 2023

Inter Parfums reported on Monday a double-digit uptick in net income, following a record-breaking increase in first-quarter sales.


Guess


The New York-based company recorded a 24% uptick in revenues to $311.7 million for the three months ending March 31. 

By market, North America, Western Europe and Asia Pacific grew sales by 36%, 21% and 8%, respectively. Sales in Central and South America, Eastern Europe, and the Middle East were also "robust," up 43%, 25%, and 5%, respectively. Additionally, the fragrance maker said its travel retail business "picked up in line with the resumption of international travel," adding it has also begun "to see light at the end of the tunnel with respect to the progressive reopening of China and look forward to meaningful sales growth as the year unfolds."

In Europe, the company's three largest brands Jimmy Choo, Montblanc and Coach surged 63%, 28%, and 24%, respectively. Sales in the region were also upheld by Inter Parfums' mid-size brands, including Karl LagerfeldBoucheron and Rochas, all of which achieved double-digit sales growth.

In the U.S., the sales increase was driven by the addition and extension of Donna Karan and DKNY to the company's portfolio and double-digit growth for Ferragamo and Oscar de la Renta, and brand extensions within established lines for Abercrombie & Fitch and MCM.

As a result, net income at the company surged 53% to $54.1 million in the first quarter, compared to $35.3 million in the prior-year period, added Inter Parfums.

As a result of the double-digit sales uptick in the first quarter and the reopening of China, Inter Parfums said it is raising its full-year 2023 guidance.

"With first quarter sales further exceeding our expectations, we are raising our 2023 guidance calling for net sales of $1.25 billion up from $1.2 billion resulting in earnings per diluted share of $4.25 up from $4.00," said  ​Michel Atwood, chief financial officer, Inter Parfums.

"Our current 2023 guidance assumes that the average dollar/euro average exchange rate remains at current levels and there is no significant resurgence of the Covid-19 pandemic.”
 

Copyright © 2024 FashionNetwork.com All rights reserved.