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Inter Parfums, Inc. Reports 2019 Fourth Quarter and Full Year Sales
NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS:IPAR) today announced that for the three months ended December 31, 2019, net sales were $177.8
About this update from Interparfums, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS:IPAR) today announced that for the three months ended December 31, 2019, net sales were $177.8 million, up 0.3% from $177.2 million in the final quarter of 2018. At comparable foreign currency exchange rates, consolidated fourth quarter net sales increased 1.5%. For the full year, net sales rose 5.6% to a record $713.5 million from $675.6 million in 2018. At comparable foreign currency exchange rates, consolidated 2019 net sales increased 7.8%. Of note, the average dollar/euro exchange rate for the 2019 fourth quarter is 1.11 compared to 1.14 in the fourth quarter of 2018. For the full years ended December 31, 2019 and 2018 the average dollar/euro exchange rates were 1.12 and 1.18, respectively. Inter Parfums plans to issue results for the 2019 fourth quarter and full year on or about Monday, March 2, 2020.\n\n\n\n\nNet Sales:\n\n\n\n \n\n \n\n \n \n \n\n \n\n\n\n\n \n\n\n\nThree months ended\n\n\n \n\nYear Ended \n\n\n\n\n\n\nDecember 31,\n\n\n \n\nDecember 31, \n\n\n\n\n\n \n\n\n\n2019\n\n\n \n\n2018\n\n\n \n\n% Change\n\n\n \n\n2019\n\n\n \n\n2018\n\n\n \n\n% Change\n\n\n\n\n\n \n\n\n\n($ in millions)\n\n\n\n\n\n \n\n\n\n \n\n\n \n\n \n\n\n \n\n \n\n\n \n\n \n\n\n \n\n \n\n\n \n\n \n\n\n\n\n\nEuropean based product sales\n\n\n\n$129.1\n\n\n \n\n$134.8\n\n\n \n\n(4.2)%\n\n\n \n\n$542.1\n\n\n \n\n$537.6\n\n\n \n\n0.8%\n\n\n\n\n\nUnited States based product sales\n\n\n\n48.7\n\n\n \n\n42.4\n\n\n \n\n14.7%\n\n\n \n\n171.4\n\n\n \n\n138.0\n\n\n \n\n24.3%\n\n\n\n\n\n \n\n\n\n$177.8\n\n\n \n\n$177.2\n\n\n \n\n0.3%\n\n\n \n\n$713.5\n\n\n \n\n$675.6\n\n\n \n\n5.6%\n\n\n\n\n\nJean Madar, Chairman & CEO of Inter Parfums stated, “2019 was a record year for sales, achieved despite the depressing effect of a strong dollar and the small number of major launches compared to prior years. We also count among of our other major accomplishments the addition of two new important names, Kate Spade New York and MCM, as well as the extension of our license for the Oscar de la Renta brand.”\n\n\nOn the subject of European based product sales, Mr. Madar noted, “Our largest brand, Montblanc, grew full year sales by close to 22.7% with the excellent performance of the new Montblanc Explorer scent as well as the continued strength of the brand’s Legend fragrance family. In constant dollars, Jim...