Published on 19 Apr 2024 on Zacks via Yahoo Finance
Inter Parfums (IPAR) Poised on Brand Strength, Expansion Efforts
Inter Parfums, Inc. IPAR has been experiencing benefits from positive trends in the fragrance market with solid product demand. The company has been witnessing a boost in its market share due to the introduction of new products and expansion of its brand offerings.These upsides, together with strategic partnerships, have been fueling IPAR’s performance. This was evident in the fourth quarter of 2023, wherein net sales advanced 6% to $329 million, backed by solid demand for its brands, robust holiday season sell-through and a lively fragrance market.Constant innovation in developing and marketing its range of fragrances, combined with strength of the aforementioned market, positions Inter Parfums for an exciting and dynamic year ahead. For full-year 2024, the company anticipates net sales of $1.45 billion and earnings of $5.15 per share. This guidance implies 10% growth in net sales and an 8% improvement in the bottom line from the 2023 levels.
