Sales for fragrance firm Inter Parfums were down for the fourth quarter although year end sales were up, with Burberry performing particularly well.
Net sales for the fourth quarter were $112.5m, down from $112.9m in the fourth quarter of 2009. However, the company stated that at comparable foreign currency exchange rates, net sales for the period were actually up 6 percent.
Net sales for the year rose
Despite a slower end to the year, net sales for 2010 increased 12.4 percent to $460.4m from $409.5m 2009. At comparable foreign currency exchange rates, net sales for 2010 rose 18.0 percent compared to 2009.
Speaking of the US-based operations, CEO Jean Madar said: “As expected, following certain inventory shortfalls in the third quarter that pushed those shipments into the fourth quarter, sales were 2 percent ahead of the final quarter of 2009.”
“Due to the more than 50 percent increase in sales through the first half of 2010, sales by US-based operations for the year as a whole were 16.2 percent ahead of 2009,” he continued.
US net sales up for Q4
US net sales for the fourth quarter were $17m, up on the year, however net sales for Europe were $95.5m, down 0.8 percent, although both showed positive year sales growth.
“Moreover, sales of our brands have been building across all regions of the world. 2010 sales in local currency in Asia rose 27%, the Middle East by 16%, Eastern Europe by 61% and South America by 42% compared to 2009,” explained Madar.
Concerning the European-based operations, Madar stated, “All of the major fragrance brands in our prestige portfolio contributed to the 12 percent increase in European-based sales.”
“Burberry fragrances had another year of growth driven by solid performances of top-selling lines,” he said.
New Burberry line
The Burberry make-up line was also introduced in summer 2010, and annual sales for the brand rose 11 percent in local currency.
Due to this growth, the New York-based company will launch its new women's line under the Burberry brand in the fall of 2011.
Inter Parfums plans to issue final results for the 2010 fourth quarter and year on or about March 9, 2011 and conduct a conference call on the following day.