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Jun 30, 2020
Inter Parfums Q2 2020 Earnings Report
Inter Parfums Reported a Decline in Net Sales and Net Income Due to COVID-19 Impact
Key Takeaways
Inter Parfums, Inc. reported a significant decline in net sales and net income for the second quarter of 2020 compared to the same period in 2019. The decrease is primarily attributed to the impact of the COVID-19 pandemic, which affected sales across various geographic regions and brands.
Net sales decreased by 43.6% in the first half of 2020 compared to the same period in the prior year.
Net income attributable to Inter Parfums, Inc. declined by 77.8% in the first half of 2020.
Sales in North America, Western Europe, and Asia experienced significant declines.
The company is focusing on rebuilding its business with new product introductions and strategic agreements.
Forward Guidance
Inter Parfums is looking beyond the current health and economic crisis to rebuild its business and sales with legacy scents and a rich pipeline of new product introductions scheduled for 2021 and beyond.
Positive Outlook
- Moving forward on a number of new fronts.
- Inked two agreements, a license with Moncler and an equity stake in origines-parfums.fr.
- Plan to launch the first collection under the Moncler name in the first quarter of 2022.
- Collaboration with origines-parfums.fr is expected to create an opportunity to introduce dedicated fragrance lines and products targeting specific consumer demand.
- Major programs for two of Inter Parfums' largest brands, Jimmy Choo and GUESS, are among the 2021 launches now in the works.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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