NEW YORK — Inter Parfums Inc. reported flat earnings for the second quarter ended June 30. The company posted earnings of $3.19 million, or 16 cents a diluted earnings per common share, compared with $3.21 million, or 16 cents, in the year-earlier period, a decrease of just 0.6 percent.
Sales rose 15 percent, to $70.3 million from $61.3 million in the year-ago period.
For the first half of the year, net income was flat at $7.6 million, or 37 cents a share — essentially, no change from the prior year — as sales increased nearly 7 percent, to $141.2 million from $132.4 million.
European product sales, which account for 85 percent of the company’s total net sales, increased 14 percent in the quarter, fueled by the introduction of Burberry London for women. A men’s version is planned for September. The launch of a new Nickel men’s fragrance, called Eau Maximum, went over well, particularly in France, Inter Parfums chairman and chief executive officer Jean Madar said during a conference call Thursday. He noted that Nickel, a French men’s grooming brand, is considering opening licensed spas in Berlin, Dubai and Moscow.
At Inter Parfums’ U.S. operations, which include primarily mass fragrance brands and the company’s new specialty retail division, sales increased 17 percent over the prior-year period, buoyed by shipments to Gap and Banana Republic of the existing fragrance and personal care lines. The company is gearing up for the September launch of the Banana Republic Discover Collection, a range of five fragrances.
Madar said Banana Republic has made an “enormous investment” in display fixtures for the launch, which will be a combination of 7-foot tables and towers.
A separate line of fragrance and personal care products is planned for Gap’s North American stores next year.