0001144204-14-044488.txt : 20140723 0001144204-14-044488.hdr.sgml : 20140723 20140723172833 ACCESSION NUMBER: 0001144204-14-044488 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140723 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Shareholder Nominations Pursuant to Exchange Act Rule 14a-11 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140723 DATE AS OF CHANGE: 20140723 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTER PARFUMS INC CENTRAL INDEX KEY: 0000822663 STANDARD INDUSTRIAL CLASSIFICATION: PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844] IRS NUMBER: 133275609 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16469 FILM NUMBER: 14989508 BUSINESS ADDRESS: STREET 1: 551 FIFTH AVE STREET 2: STE 1500 CITY: NEW YORK STATE: NY ZIP: 10176 BUSINESS PHONE: 2129832640 MAIL ADDRESS: STREET 1: 551 FIFTH AVENUE STREET 2: STE 1500 CITY: NEW YORK STATE: NY ZIP: 10176 FORMER COMPANY: FORMER CONFORMED NAME: JEAN PHILIPPE FRAGRANCES INC DATE OF NAME CHANGE: 19920703 8-K 1 v384551_8k.htm 8-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of Earliest Event Reported):

July 23, 2014

 

Inter Parfums, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   0-16469   13-3275609
(State or other jurisdiction of   Commission   (I.R.S. Employer
incorporation or organization)   File Number   Identification No.)

 

551 Fifth Avenue, New York, New York 10176

(Address of Principal Executive Offices)

 

212. 983.2640

(Registrant's Telephone number, including area code)

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2 below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

Item 2.02. Results of Operations and Financial Condition.

 

Certain portions of our press release dated July 23, 2014, a copy of which is annexed hereto as Exhibit no. 99.1, are incorporated by reference herein, and are filed pursuant to this Item 2.02. They are as follows:

 

·Portions of the 1st paragraph relating to sales for the second quarter of 2014
·The 2nd paragraph (consisting of a table) relating to sales for the second quarter and the first six months of 2014
·Portions of the 3rd paragraph relating to sales of European Operations for the second quarter of 2014
·Portions of the 4th paragraph relating to sales of United States Operations for the second quarter of 2014

 

Item 7.01. Regulation FD Disclosure.

 

Certain portions of our press release dated July 23, 2014, a copy of which is annexed hereto as Exhibit no. 99.1, are incorporated by reference herein, and are filed pursuant to this Item 7.01 and Regulation FD. They are as follows:

 

·The last sentence of the 1st paragraph relating to the plans to issue results for the second quarter of 2014 on or about August 11, 2014
·Portions of the 3rd paragraph relating to anticipated sales for Jimmy Choo Man
·Portions of the 4th paragraph relating to anticipated 2014 4th quarter and 2015 product distribution for United States Operations
·The 5th paragraph relating to 2014 guidance
·The 7th paragraph relating to forward looking information
·Portions of the 1st paragraph, 2nd paragraph and the entire 8th paragraph relating to Regulation G, Conditions of Use of Non-GAAP Financial Measures
·The balance of such press release not otherwise incorporated by reference in Item 2.02 or 5.08

 

Item 5.08. Shareholder Director Nominations.

 

The Company’s 2014 annual meeting of shareholders will be held on September 8, 2014 at our New York City offices, and the record date for the meeting is July 28, 2014.

 

Item 9.01 Financial Statements and Exhibits.

 

·99.1 Our press release dated July 23, 2014

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and authorized this report to be signed on its behalf by the undersigned.

 

Dated: July 23, 2014

 

  Inter Parfums, Inc.
     
  By: /s/ Russell Greenberg
  Russell Greenberg, Executive Vice President

 

 

 

EX-99.1 2 v384551_ex99-1.htm EXHIBIT 99.1

 

 

FOR IMMEDIATE RELEASE

 

INTER PARFUMS, INC. REPORTS 22% INCREASE IN SECOND QUARTER SALES FROM ONGOING BRANDS

 

New York, New York, July 23, 2014: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended June 30, 2014, net sales of the Company’s ongoing brands (excluding Burberry brand sales) increased 22.1% to $118.2 million, as compared to $96.8 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated second quarter net sales from ongoing brands increased 20.0%. When including Burberry brand sales, consolidated 2014 second quarter net sales increased 0.6% as Burberry brand sales amounted to $20.7 million for the second quarter of 2013 and represented the sale of inventory to Burberry and authorized sell-off of remaining Burberry finished goods. Inter Parfums plans to issue results for the 2014 second quarter on or about August 11, 2014.

 

Ongoing Brand Sales:

 

   Three months ended
June 30,
   Six Months Ended
June 30,
 
   2014   2013   % Change   2014   2013   % Change 
   ($ in millions) 
         
European-based product sales  $94.7   $72.1    31.2%  $197.0   $157.6    25.0%
United States-based product sales   23.5    24.7    -4.7%   42.9    43.4    -1.0%
   $118.2   $96.8    22.1%  $239.9   $201.0    19.4%

 

Discussing European-based operations Jean Madar, Chairman & CEO of Inter Parfums noted, “New product launches helped drive the 31.2% increase in second quarter ongoing brand sales. Montblanc brand sales were up 88% with the spring launch of the second men’s line, Emblem, in addition to the steady gains from the brand’s Legend fragrances. Also in the spring, our first Karl Lagerfeld fragrances were introduced; these signature scents for men and women delivered approximately $4 million in incremental sales during the second quarter of 2014. Our top line also benefitted from solid performances by Repetto’s signature scent, along with improving sales of existing collections from S.T. Dupont and Paul Smith. In last year’s second quarter, Jimmy Choo brand sales rose more than 40% driven by the launch of Flash, which helps to explain why Jimmy Choo sales declined 6% in the current second quarter when no new products were introduced. However, based on a higher than expected backorder log for Jimmy Choo Man to be launched in the fall, more robust sales are anticipated for the second half. Lanvin also faced a difficult comparison against the launch of Lanvin Me in the prior year period; however, a strong performance by the Eclat d’Arpège enabled the brand to slightly exceed its 2013 second quarter sales.”

 

Mr. Madar further noted, “U.S.-based sales declined modestly due to a challenging comparison with the prior year period when we took over the manufacture and distribution of Dunhill legacy fragrances. However, we are growing that brand and the others that we added in late 2012 and 2013 by launching new products and pursuing expanded distribution. In that regard, we will begin shipping our first all new Dunhill fragrance called Icon during the fourth quarter of 2014, and will be in selective distribution until early 2015. Our early spring launches, Fatale and Fatale Pink for Agent Provocateur, have been well received in international markets, and we expect momentum to continue with the commencement of U.S. sales in the fall. Initial distribution of La Nuit de Bohème for Anna Sui began in June, and will culminate late this year with its debut in China. We also plan to launch our inaugural fragrance collection for Shanghai Tang in China later this year, followed by a select international roll-out in 2015.”

 

 
 

 

Inter Parfums, Inc. News Release Page 2
July 23, 2014  

 

2014 Guidance

Russell Greenberg, Executive Vice President & Chief Financial Officer stated, “With respect to our 2014 outlook, we continue to expect net sales of approximately $495 million, which represents nearly 15% growth of our ongoing brands. We are narrowing our guidance for net income attributable to Inter Parfums, Inc. to the range of $0.93 to $0.95 per diluted share. As in the past, we will update our guidance as appropriate as the year progresses and our visibility improves.” Guidance assumes the dollar remains at current levels.

 

In the more than 30 years since its founding, Inter Parfums, Inc. has been selected as the fragrance and beauty partner for a growing list of brands that include Lanvin, Montblanc, Jimmy Choo, Boucheron, Van Cleef & Arpels, Karl Lagerfeld, Paul Smith, S.T. Dupont, Balmain, Repetto, Agent Provocateur, Alfred Dunhill, Anna Sui, Shanghai Tang, Oscar de la Renta, Gap, Banana Republic, Brooks Brothers, bebe, and Betsey Johnson. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes in over 100 countries worldwide.

 

Statements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases you can identify forward-looking statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would," or similar words. You should not rely on forward-looking statements because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings “Forward Looking Statements” and "Risk Factors" in Inter Parfums' annual report on Form 10-K for the fiscal year ended December 31, 2013 and the reports Inter Parfums files from time to time with the Securities and Exchange Commission. Inter Parfums does not intend to and undertakes no duty to update the information contained in this press release.

 

Regulation G, “Conditions for Use of Non-GAAP Financial Measures,” prescribes the conditions for use of non-GAAP financial information in public disclosures. The Company believes that our presentation of the non-GAAP financial information included in this release is important supplemental measures of operating performance to investors, because it provides readers with more complete disclosure and facilitates a more accurate comparison of current results to historic results.

 

Contact at Inter Parfums, Inc. -or- Investor Relations Counsel
Russell Greenberg, Exec. VP & CFO   The Equity Group Inc.
(212) 983-2640   Fred Buonocore (212) 836-9607/fbuonocore@equityny.com
rgreenberg@interparfumsinc.com   Linda Latman (212) 836-9609/llatman@equityny.com
www.interparfumsinc.com   www.theequitygroup.com

 

 

 

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