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Inter Parfums (IPAR) Q4 Sales Advance on Brand Strength
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Inter Parfums, Inc. (IPAR - Free Report) has concluded 2023 on a high note, reporting record-breaking net sales for the fourth quarter and the full year. This producer and distributor of a wide array of prestige fragrance and fragrance-related products has delivered impressive results, reporting a 6% increase in net sales for the final quarter, reaching $329 million, and a remarkable 21% surge in full-year net sales, totaling $1,318 million. The company's robust performance is indicative of its strategic market positioning and sustained growth momentum.
International Success
European-based product sales contributed significantly to Inter Parfums' success, showcasing a 2% increase in the fourth quarter and outstanding 16% growth for the full year. Notable contributors to this growth include a 17% rise in Coach brand sales during the fourth quarter. Despite anticipated declines in Jimmy Choo and Montblanc sales in the fourth quarter, overall European operations remained resilient.
For the quarter, European-based product sales reached a total of $200 million, underscoring the sustained demand and market strength. Looking at the full year, these sales contributed significantly, totaling an impressive $862 million. This robust performance solidifies Inter Parfums' position in the European market, showcasing its ability to navigate challenges and capitalize on growth opportunities. For the full year, Coach, Jimmy Choo and Montblanc brands witnessed sales growth of 25%, 19% and 15%, respectively.
Image Source: Zacks Investment Research
US Operations Thrive
Inter Parfums' U.S.-based operations witnessed remarkable 13% sales growth in the fourth quarter, reaching $128 million, primarily driven by Donna Karan/DKNY, with comparable quarter sales advancing 21%. GUESS and Ferragamo also experienced mid-single-digit growth during the quarter. For the full year, U.S. operations achieved outstanding 33% sales growth, totaling $456 million, with Donna Karan/DKNY, GUESS and Ferragamo leading the way with gains of 205%, 23% and 21%, respectively.
Future Outlook
Jean Madar, the chairman & CEO of Inter Parfums, expressed optimism about the company's future. He highlighted the success in exceeding the $1.3 billion sales guidance for the year and emphasized the stimulating pipeline of innovative products across the brand portfolio. With new additions to its brand portfolio, including Lacoste and Roberto Cavalli, and a fully operational Italian affiliate in Florence, Italy, the company is poised for further market share gains and anticipates delivering another record year in 2024.
Wrapping Up
Inter Parfums' financial results reflect a resilient business model and strategic decision-making. With a diversified brand portfolio, successful market positioning and a dynamic approach to industry trends, the company seems well-positioned for sustained growth. Shares of this Zacks Rank #2 (Buy) company have advanced 9.9% compared with the industry’s rise of 4.9%.
3 More Stocks Looking Red Hot
Here, we have highlighted three other top-ranked stocks, namely Abercrombie & Fitch (ANF - Free Report) , e.l.f. Beauty (ELF - Free Report) and Deckers (DECK - Free Report) .
The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial-year revenues suggests growth of 15.1% from the year-ago reported figures. Abercrombie & Fitch has a trailing four-quarter earnings surprise of 713%, on average.
e.l.f. Beauty, which provides cosmetic and skin care products, carries a Zacks Rank #2. The Zacks Consensus Estimate for e.l.f. Beauty’s current fiscal sales and EPS calls for growth of 58.2% and 63.3%, respectively, from the year-ago reported figure.
e.l.f. Beauty has a trailing four-quarter earnings surprise of 90.1%, on average.
Deckers, a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Deckers’ current fiscal sales and EPS calls for growth of 11.7% and 21.9%, respectively, from the year-ago reported figure. Deckers has a trailing four-quarter earnings surprise of 26.3%, on average.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Inter Parfums (IPAR) Q4 Sales Advance on Brand Strength
Inter Parfums, Inc. (IPAR - Free Report) has concluded 2023 on a high note, reporting record-breaking net sales for the fourth quarter and the full year. This producer and distributor of a wide array of prestige fragrance and fragrance-related products has delivered impressive results, reporting a 6% increase in net sales for the final quarter, reaching $329 million, and a remarkable 21% surge in full-year net sales, totaling $1,318 million. The company's robust performance is indicative of its strategic market positioning and sustained growth momentum.
International Success
European-based product sales contributed significantly to Inter Parfums' success, showcasing a 2% increase in the fourth quarter and outstanding 16% growth for the full year. Notable contributors to this growth include a 17% rise in Coach brand sales during the fourth quarter. Despite anticipated declines in Jimmy Choo and Montblanc sales in the fourth quarter, overall European operations remained resilient.
For the quarter, European-based product sales reached a total of $200 million, underscoring the sustained demand and market strength. Looking at the full year, these sales contributed significantly, totaling an impressive $862 million. This robust performance solidifies Inter Parfums' position in the European market, showcasing its ability to navigate challenges and capitalize on growth opportunities. For the full year, Coach, Jimmy Choo and Montblanc brands witnessed sales growth of 25%, 19% and 15%, respectively.
Image Source: Zacks Investment Research
US Operations Thrive
Inter Parfums' U.S.-based operations witnessed remarkable 13% sales growth in the fourth quarter, reaching $128 million, primarily driven by Donna Karan/DKNY, with comparable quarter sales advancing 21%. GUESS and Ferragamo also experienced mid-single-digit growth during the quarter. For the full year, U.S. operations achieved outstanding 33% sales growth, totaling $456 million, with Donna Karan/DKNY, GUESS and Ferragamo leading the way with gains of 205%, 23% and 21%, respectively.
Future Outlook
Jean Madar, the chairman & CEO of Inter Parfums, expressed optimism about the company's future. He highlighted the success in exceeding the $1.3 billion sales guidance for the year and emphasized the stimulating pipeline of innovative products across the brand portfolio. With new additions to its brand portfolio, including Lacoste and Roberto Cavalli, and a fully operational Italian affiliate in Florence, Italy, the company is poised for further market share gains and anticipates delivering another record year in 2024.
Wrapping Up
Inter Parfums' financial results reflect a resilient business model and strategic decision-making. With a diversified brand portfolio, successful market positioning and a dynamic approach to industry trends, the company seems well-positioned for sustained growth. Shares of this Zacks Rank #2 (Buy) company have advanced 9.9% compared with the industry’s rise of 4.9%.
3 More Stocks Looking Red Hot
Here, we have highlighted three other top-ranked stocks, namely Abercrombie & Fitch (ANF - Free Report) , e.l.f. Beauty (ELF - Free Report) and Deckers (DECK - Free Report) .
Abercrombie & Fitch, an omnichannel specialty retailer of apparel and accessories for men, women and kids, sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current financial-year revenues suggests growth of 15.1% from the year-ago reported figures. Abercrombie & Fitch has a trailing four-quarter earnings surprise of 713%, on average.
e.l.f. Beauty, which provides cosmetic and skin care products, carries a Zacks Rank #2. The Zacks Consensus Estimate for e.l.f. Beauty’s current fiscal sales and EPS calls for growth of 58.2% and 63.3%, respectively, from the year-ago reported figure.
e.l.f. Beauty has a trailing four-quarter earnings surprise of 90.1%, on average.
Deckers, a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Deckers’ current fiscal sales and EPS calls for growth of 11.7% and 21.9%, respectively, from the year-ago reported figure. Deckers has a trailing four-quarter earnings surprise of 26.3%, on average.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.