THE WHAT? Inter Parfums has announced its initial 2023 guidance, and expects 2023 net sales of US$1.11 billion, resulting in earnings per diluted share of US$3.70.
THE DETAILS The guidance represents an 8 percent increase in net sales and a 9 percent increase in earnings per diluted share compared to 2022 guidance of US$1.025 billion in net sales and US$3.40 in earnings per diluted share.
THE WHY? Jean Madar, Chairman & Chief Executive Officer of Inter Parfums, Inc. said: “Building upon the record sales we are projecting in 2022, the increase in 2023 that we anticipate is due to a number of factors. The strength of our brand portfolio and our global distribution network have been an engine for internal growth in the past, and we expect the same in the future. We will also ship Donna Karan and DKNY products for the full year versus only five months in 2022. Finally, new product launches, primarily brand extensions and flankers, for our largest as well as our mid-sized brands, should once again be catalysts for sustained top line growth.”
He added, “We should also benefit from continued growth of our travel retail business, as well as a more streamlined and reliable supply chain and the modest price increases we plan to take in the beginning of 2023. While there has been recent news of a loosening of restrictions in China, our 2023 estimates do not factor in any of such benefits, because the current measures appear to be modest, and the timing of a resumption of business as usual is incalculable. We will continue to monitor for any changes and plan to revise our guidance accordingly.”