Inter Parfums, Inc. Reports 2020 Third Quarter Net Sales - Seite 2

30.9

 

47.6

(35.1

)%

 

71.7

 

122.8

(41.6

)%

 

$

160.6

$

191.2

(16.0

)%

$

355.0

$

535.7

(33.7

)%

 

 

 

 

 

 

 

Jean Madar, Chairman & CEO of Inter Parfums stated, “Business has rebounded even better than anticipated. Since the early days of the pandemic, our sales have increased sequentially each and every month, thanks to store re-openings and the robust e-commerce business being conducted by our retail customers. We anticipate that this trend will continue, and for this reason, we are increasing our 2020 guidance while preparing for meaningful growth in 2021 built upon an ambitious launch schedule, including our first ever new products for the Kate Spade and MCM brands.”

Discussing European based operations, Mr. Madar noted, “As we expected, the third quarter rate of decline in sales slowed to 9.6% from 68.6% in the second quarter. In general, sales benefitted from the favorable turnaround of several of our markets, notably Asia and North America. Among our largest brands, comparable quarter Montblanc and Jimmy Choo brand sales declined 11.3% and 31.0%, respectively, which is better understood in the context of the high bars set in 2019 with the rollout of Montblanc’s Explorer and Jimmy Choo’s Urban Hero. Coach and Lanvin fragrance sales were actually ahead of last year’s third quarter by 7.9% and 1.8%, respectively. Coach brand sales continued to benefit from the debut of Coach Dreams earlier this year, while favorable sales trends in Lanvin’s key markets, Asia and Eastern Europe, were key sales catalysts.”