Business
Inter Parfums, Inc. Announces Initial 2022 Guidance
WITH SALES IN THE $925 MILLION AND $950 MILLION RANGE AND EPS BETWEEN $2.80 AND $2.85 NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today
About this update from Interparfums, Inc.
[{"type":"text","content":"\nWITH SALES IN THE $925 MILLION AND $950 MILLION RANGE AND EPS BETWEEN $2.80 AND $2.85\n\n NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it expects 2022 net sales to be in the range of $925 and $950 million, resulting in net income per diluted share of between $2.80 and $2.85. Based upon the midrange of 2022 guidance, this represents a 16% increase in net sales and a 20% increase in diluted earnings per share compared to 2021 guidance of $810 million in net sales and $2.35 in net income per diluted share. 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.\n\nJean Madar, Chairman & CEO of Inter Parfums, Inc. noted, “The increase in net sales that we are forecasting is due to many factors. The addition of new brands, notably Ferragamo for the full year and Donna Karan and DKNY starting in July 2022, will be important contributors to the top line growth. Moreover, we have our first ever products for Moncler, Moncler Pour Homme and Moncler Pour Femme rolling out to thousands of doors early in the new year. Entirely new men’s fragrance pillars are launching for Coach, GUESS and Boucheron, plus flankers debuting for our largest brands as well as for many others.”\n\nHe went on to say, “Furthermore, the resumption of international travel should be the catalyst for the revival of our duty free/travel retail business. We also anticipate a reduction in supply chain disruptions, both from actions we are taking and from market forces in general. We continue to expect a large proportion of sales by European based operations to be conducted in the U.S. where we control distribution. That translates into booking wholesale rather than ex-factory sales. Finally, the modest increase in prices effective in 2022 will factor into the growth we are looking for in 2022. While we are highly enthusiastic about the prospects for our business in the coming year, we have tempered our guidance with caution in light of the resurgence of COVID-19 in certain parts of the world.”\n\nMr. Madar also noted, “We expect to continue to benefit from the operating leverage that comes with increased sales and remain committed to once again investing approximately 21% of net sales on advertising and promotion to support ou...