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Inter Parfums (IPAR) Looks Solid, Gains More Than 35% in 6 Months
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Inter Parfums, Inc. (IPAR - Free Report) appears to be on solid footing, thanks to its constant focus on product launches and gains from strategic alliances. Notably, the company posted splendid first-quarter 2021 results last month, wherein both top and bottom lines surged year over year and the latter cruised past the Zacks Consensus Estimate. Additionally, management’s 2021 view suggests year-over-year earnings and sales growth.
The Zacks Consensus Estimate for 2021 has climbed 1.2% to $1.72 over the past 30 days. Further, this Zacks Rank #1 (Strong Buy) stock has rallied 37.6% in the past six months compared with the industry’s growth of 22.1%. Let’s delve deeper.
Inter Parfums, Inc. Price, Consensus and EPS Surprise
Inter Parfums posted earnings per share of 87 cents, which easily surpassed the Zacks Consensus Estimate of 63 cents and increased significantly from 32 cents reported in the year-ago quarter. Net sales surged 37.1% to $198.5 million compared with $144.8 million recorded in the year-ago period. Well, Inter Parfums’ business has been particularly sturdy in regions where lockdowns have been eased, stores have reopened and activities have reverted to the old normal, especially in Asia and North America.
European product sales surged 40% to $159.7 million and U.S.-based product sales grew 26.2% to $38.8 million from the year-ago period. In European operations, Montblanc, Jimmy Choo, Coach and Lanvin brands registered sales growth of 27.4%, 66.7%, 8.8% and 91.2%, respectively. Moving to the U.S. operations, which also recorded robust growth in the quarter under review, the company benefited from strength in GUESS, Abercrombie & Fitch, Hollister and Dunhill brands. Also, the debut of MCM’s signature scent toward the end of the first quarter led to the upside. Management anticipates 2021 net sales to be nearly $700 million, while net income per share is expected to be $1.65. This suggests growth from net sales and net income per share of $539 million and $1.21 per share reported in 2020, respectively.
Image Source: Zacks Investment Research
Major Drivers
Inter Parfums’ focus on product launches to boost assortment strength is impressive. The company’s new product launches of Jimmy Choo's I Want Choo, Kate Spade Signature scent and Rochas Girl delivered solid high-margin sales in the first quarter. The company continues to roll out products that were introduced in the first quarter of 2021, which include Oscar de la Renta’s Alibi , GUESS’s Bella Vita , the debut of MCM scent and Hollister’s Canyon Escape. Product pipeline for the remaining part of the year includes brand extensions such as flankers for Montblanc Explorer, Coach Dreams, Jimmy Choo Urban Hero, the Oscar de la Renta Bella family, the Hollister Wave collection, and the Anna Sui Fantasia pillar. Apart from these, the company has absolutely new fragrances planned for the coming quarters, including a Lanvin women’s line, Abercrombie & Fitch’s new duo, Dunhill’s Driven collection for men and GUESS’s men’s grooming collection.
Apart from these, Inter Parfums has been gaining on its strategic partnerships with Origines-parfums and Moncler SpA. In July 2020, Inter Parfums’ majorly owned subsidiary, Interparfums SA, acquired 25% of Divabox’s capital. Notably, Divabox is the owner of Origines-parfums, which is a renowned French company in the online beauty market. In June 2020, Interparfums SA signed an agreement with renowned luxury brand, Moncler SpA. The deal gave Inter Parfums rights to fragrance-related items in Moncler monobrand stores along with a few other specialty shops, department stores and duty-free shops. In fact, the first scent from the Moncler brand is expected to launch at the start of first-quarter 2022. The deal, which will last till December 2026, has the potential for a five-year extension.
All said, we expect Inter Parfums to continue climbing up the growth ladder.
Nu Skin (NUS - Free Report) has a Zacks Rank #2 (Buy) and a trailing four-quarter earnings surprise of 18.8%, on average.
Nomad Foods (NOMD - Free Report) has a Zacks Rank #2 and its bottom line outpaced the Zacks Consensus Estimate by 10.3% in the trailing four quarters, on average.
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Inter Parfums (IPAR) Looks Solid, Gains More Than 35% in 6 Months
Inter Parfums, Inc. (IPAR - Free Report) appears to be on solid footing, thanks to its constant focus on product launches and gains from strategic alliances. Notably, the company posted splendid first-quarter 2021 results last month, wherein both top and bottom lines surged year over year and the latter cruised past the Zacks Consensus Estimate. Additionally, management’s 2021 view suggests year-over-year earnings and sales growth.
The Zacks Consensus Estimate for 2021 has climbed 1.2% to $1.72 over the past 30 days. Further, this Zacks Rank #1 (Strong Buy) stock has rallied 37.6% in the past six months compared with the industry’s growth of 22.1%. Let’s delve deeper.
Inter Parfums, Inc. Price, Consensus and EPS Surprise
Inter Parfums, Inc. price-consensus-eps-surprise-chart | Inter Parfums, Inc. Quote
Solid Q1 Outcome
Inter Parfums posted earnings per share of 87 cents, which easily surpassed the Zacks Consensus Estimate of 63 cents and increased significantly from 32 cents reported in the year-ago quarter. Net sales surged 37.1% to $198.5 million compared with $144.8 million recorded in the year-ago period. Well, Inter Parfums’ business has been particularly sturdy in regions where lockdowns have been eased, stores have reopened and activities have reverted to the old normal, especially in Asia and North America.
European product sales surged 40% to $159.7 million and U.S.-based product sales grew 26.2% to $38.8 million from the year-ago period. In European operations, Montblanc, Jimmy Choo, Coach and Lanvin brands registered sales growth of 27.4%, 66.7%, 8.8% and 91.2%, respectively. Moving to the U.S. operations, which also recorded robust growth in the quarter under review, the company benefited from strength in GUESS, Abercrombie & Fitch, Hollister and Dunhill brands. Also, the debut of MCM’s signature scent toward the end of the first quarter led to the upside. Management anticipates 2021 net sales to be nearly $700 million, while net income per share is expected to be $1.65. This suggests growth from net sales and net income per share of $539 million and $1.21 per share reported in 2020, respectively.
Major Drivers
Inter Parfums’ focus on product launches to boost assortment strength is impressive. The company’s new product launches of Jimmy Choo's I Want Choo, Kate Spade Signature scent and Rochas Girl delivered solid high-margin sales in the first quarter. The company continues to roll out products that were introduced in the first quarter of 2021, which include Oscar de la Renta’s Alibi , GUESS’s Bella Vita , the debut of MCM scent and Hollister’s Canyon Escape. Product pipeline for the remaining part of the year includes brand extensions such as flankers for Montblanc Explorer, Coach Dreams, Jimmy Choo Urban Hero, the Oscar de la Renta Bella family, the Hollister Wave collection, and the Anna Sui Fantasia pillar. Apart from these, the company has absolutely new fragrances planned for the coming quarters, including a Lanvin women’s line, Abercrombie & Fitch’s new duo, Dunhill’s Driven collection for men and GUESS’s men’s grooming collection.
Apart from these, Inter Parfums has been gaining on its strategic partnerships with Origines-parfums and Moncler SpA. In July 2020, Inter Parfums’ majorly owned subsidiary, Interparfums SA, acquired 25% of Divabox’s capital. Notably, Divabox is the owner of Origines-parfums, which is a renowned French company in the online beauty market. In June 2020, Interparfums SA signed an agreement with renowned luxury brand, Moncler SpA. The deal gave Inter Parfums rights to fragrance-related items in Moncler monobrand stores along with a few other specialty shops, department stores and duty-free shops. In fact, the first scent from the Moncler brand is expected to launch at the start of first-quarter 2022. The deal, which will last till December 2026, has the potential for a five-year extension.
All said, we expect Inter Parfums to continue climbing up the growth ladder.
3 Other Consumer Staple Stocks
Medifast (MED - Free Report) , which currently carries a Zacks Rank #1, has a trailing four-quarter earnings surprise of 12.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nu Skin (NUS - Free Report) has a Zacks Rank #2 (Buy) and a trailing four-quarter earnings surprise of 18.8%, on average.
Nomad Foods (NOMD - Free Report) has a Zacks Rank #2 and its bottom line outpaced the Zacks Consensus Estimate by 10.3% in the trailing four quarters, on average.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>