Interparfums: doesn't smell good on slower growth
(CercleFinance.com) - Interparfums sales growth slowed in Q3, reflecting the slowdown in consumer spending.
On Tuesday, the designer of licensed fragrances reported sales of E214.6m for the period, in line with expectations, up 10% at current exchange rates and 18% at constant exchange rates.
The group said it had not made any major launches over the period.
Montblanc, its second-largest brand behind Jimmy Choo, posted quarterly sales up 12% to E54.7m.
Interparfums reported 9m sales growth of 19% to E610m, in line with its FY target of E800m.
However, CEO Philipe Benacin points out that over the summer the strong growth momentum that had been driving the Group's business since the end of 2021 slowed down, prompting the company to remain cautious for the coming quarters.
With slowing growth since end-2021 and cautious comments for the coming quarters, Interparfums shares were down almost 3% in early trading on Tuesday in Paris and have now fallen 7.5% YTD.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
On Tuesday, the designer of licensed fragrances reported sales of E214.6m for the period, in line with expectations, up 10% at current exchange rates and 18% at constant exchange rates.
The group said it had not made any major launches over the period.
Montblanc, its second-largest brand behind Jimmy Choo, posted quarterly sales up 12% to E54.7m.
Interparfums reported 9m sales growth of 19% to E610m, in line with its FY target of E800m.
However, CEO Philipe Benacin points out that over the summer the strong growth momentum that had been driving the Group's business since the end of 2021 slowed down, prompting the company to remain cautious for the coming quarters.
With slowing growth since end-2021 and cautious comments for the coming quarters, Interparfums shares were down almost 3% in early trading on Tuesday in Paris and have now fallen 7.5% YTD.
Copyright (c) 2023 CercleFinance.com. All rights reserved.