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Inter Parfums, Inc. Reports Record 2022 Second Quarter Net Sales
Increases 2022 Guidance to $1 Billion in Net Sales and EPS To $3.25 NEW YORKNEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced
About this update from Interparfums, Inc.
[{"type":"text","content":"\nIncreases 2022 Guidance to $1 Billion in Net Sales and EPS To $3.25\n\n NEW YORKNEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended June 30, 2022, net sales rose to $244.7 million, up 18% from $207.6 million from the second quarter of 2021. At comparable foreign currency exchange rates, consolidated 2022 second quarter net sales increased 24% compared to the second quarter of 2021. Of note, the average dollar/euro exchange rate for the current second quarter was 1.06 compared to 1.20 in the second quarter of 2021 while for the first half of 2022, the average dollar/euro exchange rate was 1.09 compared to 1.20 in the first half of 2021. Inter Parfums plans to issue results for the 2022 second quarter on or about August 9, 2022.\n\nNet Sales:\n\n\n\n \n\n\n\nThree Months Ended\nJune 30,\n\n\n\n\nSix Months Ended\nJune 30,\n\n\n \n \n\n\n\n \n\n\n\n2022\n\n\n\n\n2021\n\n\n \n\n% Change\n\n\n\n\n2022\n\n\n \n\n2021\n\n\n \n\n% Change\n\n\n \n \n\n\n\n \n\n\n\n($ 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\nEuropean based product sales\n\n\n\n$166.3\n\n\n \n\n\n$161.2\n\n\n \n\n3%\n\n\n\n\n$348.5\n\n\n \n\n$320.9\n\n\n \n\n9%\n\n\n \n \n\n\n\nUnited States based product sales\n\n\n\n78.4\n\n\n \n\n\n46.4\n\n\n \n\n69%\n\n\n\n\n146.9\n\n\n \n\n85.2\n\n\n \n\n72%\n\n\n \n \n\n\n\n \n\n\n\n$244.7\n\n\n \n\n\n$207.6\n\n\n \n\n18%\n\n\n\n\n$495.4\n\n\n \n\n$406.1\n\n\n \n\n22%\n\n\n \n \n\n\nJean Madar, Chairman & CEO of Inter Parfums stated, “Despite supply chain disruptions, inflation, lockdowns, transportation issues, the strength of the dollar, store closures, sanctions, the slow recovery of international travel, logistics difficulties in the U.S. caused by a change in shipping software by our local partner, and the war in Eastern Europe, 2022 is proving to be an exceptionally strong year for us on both sides of the Atlantic. Second quarter sales by our U.S. operations were outstanding, with substantial comparable quarterly gains by GUESS?, Abercrombie & Fitch, Oscar de la Renta, and MCM, increasing 39%, 40%, 35%, and 56%, respectively. Incremental sales of Ferragamo fragrances also factored into the increase. Of note, Uomo by GUESS? was the only major launch during the second quarter; legacy scents and flankers fueled the gains by the other ...