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Inter Parfums, Inc. Reports Record 2022 Fourth Quarter and Full Year Net Sales
Affirms 2023 Guidance NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended December 31, 2022,
About this update from Interparfums, Inc.
[{"type":"text","content":"\nAffirms 2023 Guidance\n\n NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended December 31, 2022, net sales rose to a record $311 million, a 47% increase from $211 million in the fourth quarter of 2021. At comparable foreign currency exchange rates, consolidated fourth quarter net sales increased 57% from the fourth quarter of 2021. Of note, the average dollar/euro exchange rates for the 2022 and 2021 fourth quarters were 1.02 and 1.14, respectively, leading to a negative 10% foreign exchange impact.\n\nFor the full year, 2022 net sales rose to $1.087 billion, up 24% from $880 million in 2021 and slightly above our latest guidance of $1.08 billion. At comparable foreign currency exchange rates, consolidated 2022 net sales increased 30% from 2021. The average dollar/euro exchange rates for 2022 and 2021 were 1.05 and 1.18, respectively, for a negative 7% foreign exchange impact. The Company plans to announce fourth quarter and full-year 2022 results on February 28, 2023.\n\nNet Sales:\n\n\n\n \n\n\n \n\nThree Months Ended\nDecember 31,\n\n\n \n\nYear Ended\nDecember 31,\n\n\n\n\n\n($ in millions)\n\n\n \n\n2022\n\n\n \n\n2021\n\n\n \n\n% Change\n\n\n \n\n2022\n\n\n \n\n2021\n\n\n \n\n% Change\n\n\n\n\n\n \n\n\n \n\n \n\n\n\n\n\nEuropean based product sales\n\n\n \n\n$197\n\n\n \n\n$136\n\n\n \n\n45%\n\n\n \n\n$744\n\n\n \n\n$663\n\n\n \n\n12%\n\n\n\n\n\nUnited States based product sales\n\n\n \n\n114\n\n\n \n\n75\n\n\n \n\n52%\n\n\n \n\n343\n\n\n \n\n217\n\n\n \n\n58%\n\n\n\n\n\n \n\n\n \n\n$311\n\n\n \n\n$211\n\n\n \n\n47%\n\n\n \n\n$1,087\n\n\n \n\n$880\n\n\n \n\n24%\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\nJean Madar, Chairman & Chief Executive Officer of Inter Parfums stated, “As we reported earlier this month, the fourth quarter of 2022 was exceptionally strong, ushering in the best year in our history. In the final quarter of the year, our four largest brands, Montblanc, Jimmy Choo, Coach and GUESS? generated sales gains of 50%, 78%, 82% and 28%, respectively, compared to the same period one year earlier. Many of our other fragrance brands also achieved stellar comparable quarter growth. For our U.S. based operations, Oscar de la Renta and Abercrombie & Fitch grew sales by 28% and 16%, respectively, while for...