Inter Parfums' Q3 Sales Rise 15% on Strong Brand Performance

Inter Parfums, Inc. IPAR continues to benefit from strength in the fragrance market, as reflected in its stellar third-quarter 2024 sales. The results were fueled by ongoing fragrance market momentum, the strong performance of the company’s largest brands, as well as contributions from its latest brands, Lacoste and Roberto Cavalli.For the three months ended Sept. 30, 2024, net sales rose 15% to $425 million from $368 million reported in the year-ago quarter. This growth was driven by the strong performance of the company's largest brands, along with its newest brands, Lacoste and Roberto Cavalli, which together contributed 10% to the sales increase.For the nine months ended Sept. 30, 2024, net sales rose 10% to $1091 million from $989 million in the year-ago quarter. In this time frame, Inter Parfums’ Europe-based product sales were $739 million, up 12% from the prior-year levels. U.S.-based product sales amounted to $362 million, up 11% from the prior-year period's levels.IPAR’s Strong Sales Growth in European OperationsIn the third quarter of 2024, sales in the European-based operations surged 21% to $282 million. This growth was propelled by the exceptional performance of the Jimmy Choo and Montblanc brands, which saw increases of 17% and 10%, respectively. Jimmy Choo’s sales acceleration was fueled by the launch of I Want Choo Le Parfum, while Montblanc’s sales were boosted by the continued success of the Explorer and Legend lines.Coach, one of the company’s largest brands, maintained sales levels comparable to the third quarter of 2023, a period when Coach sales rose by 32%. This solid sales performance was also complemented by the debut of the Lacoste Original line.Several mid-sized brands also contributed to the company's quarterly growth along with the larger brands. Lanvin sales surged 31%, driven by a resumption of normalized sales in Eastern Europe and Asia, while Karl Lagerfeld achieved a 19% sales increase, supported by the launch of its new Ikonik line and an expanded product range.IPAR’s Impressive Growth in the United StatesIPAR’s U.S. operations sales rose 9% year over year to $146 million in the third quarter of 2024. The company’s largest U.S. brand, GUESS, saw a 16% rise in sales during this period, driven by the ongoing popularity of its classic fragrances and the successful launch of GUESS Iconic.Sales from the second-largest brand, Donna Karan/DKNY, grew 4%. Now in its third year with the company, the brand has introduced DKNY 24/7, which started a global rollout in September after a successful limited release over the summer.The Ferragamo brand continued to gain traction, supported by the success of its latest fragrance, Signorina Unica. For the new brand Roberto Cavalli, the fragrance Sweet Ferocious debuted in August, and the company has already started shipping the Wild Heart duo, which is set to hit stores next month just in time for the holiday shopping season.IPAR Reaffirms GuidanceWith a strategic focus on innovation and product launches, the company is well-positioned in the ongoing dynamic, competitive and growing marketplace to support retailers and distributors. The strength of a diverse brand portfolio, combined with the flexible operating model, should help it gain market share. All said, management reiterated its guidance for 2024.For full-year 2024, the company continues to anticipate net sales of $1.45 billion and earnings of $5.15 per share. This guidance suggests 10% growth in net sales and an 8% increase in the bottom line from the 2023 levels.This Zacks Rank #3 (Hold) company’s shares have declined 13.8% in the past three months compared with the industry’s 16.2% decline.Image Source: Zacks Investment Research3 Picks You Can’t MissHere, we have highlighted three better-ranked stocks, G-III Apparel Group, Ltd. GIII, Gildan Activewear Inc. GIL and Crocs, Inc. CROX, G-III Apparel designs, sources and markets women's and men's apparel in the United States and internationally. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.GIII has a trailing four-quarter earnings surprise of 118.2%, on average. The Zacks Consensus Estimate for G-III Apparel’s current quarter’s sales indicate a growth of 3.3% from the year-ago reported number.Gildan Activewear manufactures and sells various apparel products in the United States, North America, Europe, the Asia-Pacific and Latin America. GIL currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for Gildan Activewear’s current financial year’s sales and earnings suggests a rise of 1.4% and 14%, respectively, from the year-earlier reported figures. GIL has a trailing four-quarter earnings surprise of around 5.5%, on average.Crocs develops and manufactures, lifestyle footwear and accessories. It currently has a Zacks Rank #2. CROX has a trailing four-quarter earnings surprise of 14.9%, on average. The Zacks Consensus Estimate for Crocs current financial-year sales and earnings suggests growth of 4.2% and 6.9%, respectively, from the year-ago reported figures.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Crocs, Inc. (CROX): Free Stock Analysis Report G-III Apparel Group, LTD. (GIII): Free Stock Analysis Report Gildan Activewear, Inc. (GIL): Free Stock Analysis Report Inter Parfums, Inc. (IPAR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks