Inter Parfums Q2
This article was originally published in The Rose Sheet
Executive SummaryGlobal decline in consumer spending and unfavorable currency exchange rates dragged Inter Parfums' fiscal 2009 second-quarter sales down 10.6% to $88.6 mil. versus the comparable 2008 quarter, firm says July 23. Chairman and CEO Jean Madar reports that firm's Lanvin brand has "proven somewhat resilient to the economic downturn" with sales 25% higher than last year due to strength of Eclat d'Arpege, spring launch of Lanvin L'Homme Sport and reorders of Jeanne Lanvin, which debuted in the fall. Firm's specialty retail business was hurt by "especially weak" North American market, Madar says. Inter Parfums will debut new products for Brooks Brothers, Banana Republic and bebe in the second half of 2009 in domestic and international markets. "We anticipate that these new activities together with existing distribution should stem the sales decline for our U.S. operations," Madar said. European-based operations generated $79.4 mil. in sales during the second quarter, while North American operations generated $9.2 mil. For the first half of 2009, sales totaled $179 mil
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