Inter Parfums posts 31 percent gain in Q1
NEW YORK Inter Parfums, which manufacturers and distributes fragrances, cosmetics and personal care products, posted a U.S. sales gain of 31 percent during the first quarter, reflecting the strength of its specialty retail business.
Sales in the United States rose 31 percent to $12.6 million compared with $9.5 million in the year-ago period. Net sales for the company rose 45 percent to $123.2 million from $85.1 million. At a comparable foreign currency exchange rate, net sales were up 35 percent for the first quarter.
Net income rose 50 percent to $8.7 million, or 42 cents per share, compared with $5.8 million, 28 cents per share, in the year-ago period.
Jean Madar, chairman and chief executive officer, said the company continues to add new product, adapt existing ones and replenish stock for its specialty retail partners. At Brooks Brothers, the company is moving forward in the development of its initial line of new Brooks Brothers fragrance products for men and women, slated to launch in Brooks Brothers’ U.S. stores from the coming holiday season.
In addition, the company recently announced that it expanded its current relationship with Gap Inc. with the signing of a four-year licensing agreement for international distribution of personal care products through Gap and Banana Republic stores as well as select specialty and department stores outside the United States, including duty-free and other travel-related retailers. The agreement expires Dec. 31, 2011.
Bare Escentuals’ RareMinerals Blemish Therapy wins CEW award
SAN FRANCISCO Bare Escentuals, the creators of bareMinerals, has announced that its RareMinerals Blemish Therapy won the CEW Insiders Choice Award for most innovative beauty product of the year.
With 600 new products entered, 135 finalists and more than 4,000 cosmetic industry executives voting, RareMinerals Blemish Therapy is the 2008 winner in the Facial and Skincare category for acne treatment.
“We couldn’t be more excited about this honor,” said Leslie Blodgett, chief executive officer of Bare Escentuals. “Winning an award by the CEW is beauty’s highest recognition because products are voted on by industry executives. These groups of remarkable women have a pulse on consumer needs and a clear understanding of what it takes to create a breakthrough product.”
The Blemish Therapy treatment combines the proprietary RareMinerals concentrate with the acne-fighting benefits of natural sulfur to treat and heal existing acne while preventing future breakouts from forming.
Additional products in the RareMinerals skin care line include the Renew & Reveal Facial Cleanser, a mineral-based cleanser and the Skin Revival Treatment, a mineral-based nighttime treatment.
RareMinerals, bareMinerals and Bare Escentuals products are available at Bare Escentuals Boutiques and Web site, Sephora, Ulta, domestic Spas, and select Nordstrom’s and Macy’s stores.
Physicians Formula posts double-digit Q1 sales gains
AZUSA, Calif. Physicians Formula posted double-digit sales gains for the first quarter, reflecting solid sales of its new Mineral Wear and Organic wear lines.
Sales for the quarter ended March 31 totaled $42.7 million, up 19.6 percent from $35.7 million in the year-ago period. Net income totaled $5 million, or 34 cents per share, compared with $4.3 million, or 30 cents per share, in the year-ago period.
“We are very pleased with our strong first quarter net sales, which reflect the demand by our retail partners for existing products as well as the new products that form the foundation of the company’s 2008 strategic initiatives. These include our new Organic wear line,” stated Ingrid Jackel, chairwoman and chief executive officer of Physicians Formula. “Late in the quarter, we began our advertising, promotion and public relations activities to support our new products initiatives and we remain optimistic about their consumer appeal.”
The company reiterated its full-year 2008 outlook and continues to expect net sales of between $123 million and $125 million, representing and increase of between 10 percent and 12 percent over 2007. Net income per diluted common share is expected to be between 65 cents and 69 cents, representing an increase between 8 percent and 15 percent over 2007.