Core Insights - Interparfums, Inc. reported a modest growth in net sales for Q3 2025, with a 1% increase year-over-year, reflecting ongoing market dynamics and macroeconomic challenges [2][3][12] - The company has refined its FY2025 guidance to anticipate $1.47 billion in sales, representing a 1% increase from the previous year, with diluted earnings per share expected to remain flat at $5.12 [12] Financial Performance - For Q3 2025, net sales reached $430 million, compared to $425 million in Q3 2024, while net sales for the first nine months of 2025 totaled $1.102 billion, up from $1.091 billion in the same period last year [2][11] - Gross margin for Q3 2025 was 63.5%, a slight decrease from 63.9% in Q3 2024, but improved to 64.4% for the first nine months, up from 63.6% [2][6] - Operating income increased by 2% to $109 million in Q3 2025, with an operating margin of 25.3%, compared to 25.0% in Q3 2024 [2][8] Market Dynamics - The prestige and luxury fragrance category continues to perform well, but broader macroeconomic factors such as retailer destocking and evolving consumer behavior have moderated topline growth [3][4] - Sales in North America and Western Europe grew by 4% and 3% respectively, while sales in Asia/Pacific declined by 9% due to distribution challenges [4][5] Strategic Initiatives - The company is focused on maintaining sales momentum through a strong innovation pipeline and rigorous advertising and promotion programs [3][5] - Interparfums plans to leverage e-commerce channels to maximize brand engagement and capture sales during the holiday gifting season [5][12] Operational Efficiency - SG&A expenses as a percentage of net sales decreased to 38.2% in Q3 2025 from 38.9% in Q3 2024, reflecting effective management of advertising and promotional activities [7][8] - The company reported a healthy financial position with $188 million in cash and cash equivalents, and generated $68 million in operating cash flow for the first nine months of 2025, up from $50 million a year ago [12]

Core Insights - The London Company Small Cap Strategy reported a 1.9% appreciation in its small-cap portfolio for Q3 2025, underperforming the Russell 2000 Index which gained 12.4% [1] - The investor letter highlighted Inter Parfums, Inc. (NASDAQ:IPAR) as a key holding, noting its recent stock performance and market capitalization [2][4] Company Performance - Inter Parfums, Inc. (NASDAQ:IPAR) experienced a one-month return of -3.03% and a 52-week decline of 26.90%, closing at $90.58 per share with a market cap of $2.909 billion on November 3, 2025 [2] - The company was identified as a bottom holding due to cautious inventory management by retailers and a softening fragrance market, although it continues to show resilience with solid growth and market share gains [3] Investment Sentiment - Inter Parfums, Inc. (NASDAQ:IPAR) was held by 20 hedge fund portfolios at the end of Q2 2025, an increase from 17 in the previous quarter, indicating growing interest among institutional investors [4] - Despite the potential of Inter Parfums, the company is not considered among the top 30 most popular stocks among hedge funds, with some analysts suggesting that certain AI stocks may offer better upside potential [4]

Core Insights - Interparfums, Inc. (NASDAQ:IPAR) is recognized among the 15 Dividend Growth Stocks with the highest growth rates [1] - The company has a strong brand strategy and a solid dividend track record, appealing to long-term investors [2] Company Overview - Interparfums designs, manufactures, and markets high-end fragrances under long-term licensing agreements with major fashion houses such as Jimmy Choo, Lacoste, Coach, and Montblanc, providing global reach and a diverse product lineup [2] - Recently, the company has expanded its portfolio through new licensing deals with brands like Off-White and Longchamp, while also enhancing its own fragrance lines [3] Financial Performance - In Q3 2025, Interparfums reported revenue of $430 million, slightly below the consensus estimate of $432 million, with growth driven by brands like Jimmy Choo, Coach, Roberto Cavalli, and MCM, while Montblanc and Donna Karan/DKNY saw declines [4] - European sales increased by 5% year over year, building on a 21% growth from the same period last year, largely due to the success of Jimmy Choo's I Want Choo line, which saw a 16% rise in quarterly sales [5] Dividend Information - Interparfums has paid dividends for 20 consecutive years, establishing a strong reputation among income-focused investors [6] - Over the past five years, the company has raised its dividend payouts at an annual average rate of 27.5%, with a current quarterly dividend of $0.80 per share and a dividend yield of 3.58% as of October 30 [6]

Core Insights - Interparfums, Inc. reported a solid performance in Q3 2025, achieving a record $430 million in consolidated net sales, reflecting a 1% year-over-year increase despite a selective consumer environment [1][2]. Sales Performance - The company recorded a 1% increase in year-to-date sales, totaling $1,102 million, indicating resilience in the global fragrance market [2]. - A favorable dollar/euro exchange rate contributed approximately 2% to the quarterly sales growth [2]. Regional Performance - European-based net sales rose 5% year-over-year to $295 million, driven by strong brand performances, particularly from Jimmy Choo, which saw a 16% increase in sales for the quarter [3]. - The Lacoste brand is on track to exceed $100 million in annual sales for 2025, marking a successful second year under Interparfums' management [3]. Brand Contributions - The Coach brand experienced a 6% sales increase in Q3 and an 18% rise year to date, aided by the successful launch of Coach Gold [4]. - Despite a slight dip in Montblanc sales, new product launches are expected to support future growth [4]. - Roberto Cavalli surged 44% in Q3, driven by successful new launches, while GUESS fragrances saw a 3% decline due to a high comparison base [9]. Management Outlook - Interparfums aims to maintain flexibility and drive innovation, with expectations for improved performance through late 2025 and into 2026 [10]. - The company plans to strengthen its position in the prestige fragrance segment by broadening its portfolio and investing in new product development [11].

[2025 Third Quarter Net Sales Announcement](index=1&type=section&id=2025%20Third%20Quarter%20Net%20Sales%20Announcement) Interparfums reported 1% consolidated net sales growth for Q3 and year-to-date 2025, reaching $430 million and $1,102 million, driven by prestige fragrances [Overview of Net Sales Performance](index=1&type=section&id=Overview%20of%20Net%20Sales%20Performance) Consolidated net sales grew 1% for Q3 and year-to-date 2025, reaching $430 million and $1,102 million, with European operations showing stronger growth Net Sales Performance ($ in millions) | Net Sales ($ in millions) | 2025 (3 Months) | 2024 (3 Months) | % Change (3 Months) | 2025 (9 Months) | 2024 (9 Months) | % Change (9 Months) | | :------------------------ | :-------------- | :-------------- | :------------------ | :-------------- | :-------------- | :------------------ | | Total Interparfums, Inc. | $430 | $425 | 1% | $1,102 | $1,091 | 1% | | European based net sales | $295 | $282 | 5% | $784 | $739 | 6% | | United States based net sales* | $137 | $146 | (6%) | $327 | $362 | (10%) | | Eliminations of intercompany sales | ($3) | ($4) | n/a | ($9) | ($11) | n/a | - The average dollar/euro exchange rate for Q3 2025 was **1.17** (vs 1.10 in Q3 2024), leading to a positive **2% foreign exchange impact**[3](index=3&type=chunk) - For the first nine months of 2025, the rate was **1.12** (vs 1.09 in 2024), resulting in a positive **1% foreign exchange impact**[3](index=3&type=chunk) [Management's Overall Commentary](index=1&type=section&id=Management's%20Overall%20Commentary) Management reported a record third quarter with 1% consolidated sales growth, driven by luxury fragrances despite selective consumer spending and cautious retailer inventory - Achieved a record third quarter with consolidated sales growth of **1%** for both Q3 2025 and year-to-date periods[5](index=5&type=chunk) - Growth was supported by ongoing consumer interest in prestige and luxury fragrances[5](index=5&type=chunk) - Growth was more moderate than expected due to more selective consumer spending and cautious retailer inventory approaches[5](index=5&type=chunk) [Detailed Sales Performance Analysis](index=1&type=section&id=Detailed%20Sales%20Performance%20Analysis) A detailed analysis of consolidated and segmental net sales reveals varied performance across European and United States-based operations [Consolidated and Segmental Net Sales](index=1&type=section&id=Consolidated%20and%20Segmental%20Net%20Sales) European operations grew 5% in Q3 and 6% year-to-date, while US operations declined 6% in Q3 and 10% year-to-date, impacted by the Dunhill license discontinuation Segmental Net Sales ($ in millions) | Segment | 2025 (3 Months) | 2024 (3 Months) | % Change (3 Months) | 2025 (9 Months) | 2024 (9 Months) | % Change (9 Months) | | :------------------------ | :-------------- | :-------------- | :------------------ | :-------------- | :-------------- | :------------------ | | European based net sales | $295 | $282 | 5% | $784 | $739 | 6% | | United States based net sales* | $137 | $146 | (6%) | $327 | $362 | (10%) | - United States based organic net sales decreased by **6% year-to-date**, excluding the impact of the discontinued Dunhill license[3](index=3&type=chunk) [European Based Operations Performance](index=1&type=section&id=European%20Based%20Operations%20Performance) European operations achieved robust growth, with strong contributions from Jimmy Choo, Lacoste, Coach, Roberto Cavalli, and MCM, despite a slight decline in Montblanc sales [Jimmy Choo](index=1&type=section&id=Jimmy%20Choo) Jimmy Choo brand sales grew significantly in Q3 and year-to-date, driven by the strong performance of the 'I Want Choo' franchise - Jimmy Choo brand grew **16% in Q3** and **9% year-to-date**, primarily due to the strong performance of the 'I Want Choo' franchise[6](index=6&type=chunk) [Lacoste](index=1&type=section&id=Lacoste) Lacoste fragrances are on track to achieve $100 million in sales this year, demonstrating strong performance in its second year - Lacoste fragrances are on track to achieve **$100 million in sales** this year, in its second year under Interparfums' management[6](index=6&type=chunk) [Coach](index=1&type=section&id=Coach) Coach brand sales increased in Q3 and year-to-date, benefiting from established lines and the successful launch of 'Coach Gold' - Coach brand sales increased **6% for Q3** and **18% year-to-date**, with continued success from established lines and good performance from the new 'Coach Gold' innovation[7](index=7&type=chunk) [Montblanc](index=1&type=section&id=Montblanc) Montblanc brand sales experienced a slight decline in Q3 and year-to-date despite new product releases like 'Montblanc Explorer Extreme' - Montblanc brand sales were slightly lower in Q3, leading to a **6% decline year-to-date**, despite new product releases like 'Montblanc Explorer Extreme' and 'Montblanc Signature Elixir'[8](index=8&type=chunk) [Roberto Cavalli](index=2&type=section&id=Roberto%20Cavalli) Roberto Cavalli fragrance sales significantly rose in Q3 and year-to-date, driven by strong innovation and new product launches - Roberto Cavalli fragrance sales rose **44% during Q3** and **33% year-to-date**, benefiting from strong innovation including new product launches[13](index=13&type=chunk) [MCM](index=2&type=section&id=MCM) MCM fragrance sales increased in Q3 and year-to-date, propelled by the ongoing momentum of the 'MCM Collection' debut - MCM fragrance sales rose **6% for Q3** and **9% year-to-date**, driven by ongoing momentum from the debut of the 'MCM Collection'[13](index=13&type=chunk) [United States Based Operations Performance](index=1&type=section&id=United%20States%20Based%20Operations%20Performance) US operations experienced declines, with organic net sales decreasing 6% year-to-date, primarily due to the Dunhill license phase-out and strong prior-year comparables for GUESS and Donna Karan/DKNY [GUESS](index=1&type=section&id=GUESS) GUESS fragrance sales moderately declined in Q3 due to a high prior-year base, but are expected to grow in Q4 - GUESS fragrance sales declined moderately by **3% in Q3** due to a high prior-year base and innovation phasing, but the brand is poised for sales growth in Q4[10](index=10&type=chunk) [Donna Karan/DKNY](index=2&type=section&id=Donna%20Karan%2FDKNY) Donna Karan/DKNY sales declined in Q3 2025 due to robust prior-year growth, but are projected to increase in Q4 - Donna Karan/DKNY sales declined **14% during Q3 2025** due to robust prior-year growth, but are expected to grow in Q4 based on planned shipments and holiday popularity[12](index=12&type=chunk) [Dunhill (Discontinued Impact)](index=1&type=section&id=Dunhill%20%28Discontinued%20Impact%29) US-based sales, excluding the Dunhill license phase-out which concluded in August 2024, decreased 5% for Q3 and 6% year-to-date - Sales by United States based operations, excluding the Dunhill fragrances phase-out, decreased **5% for Q3** and **6% year-to-date**[9](index=9&type=chunk) - The phase-out of the Dunhill license concluded in August 2024[9](index=9&type=chunk) [Strategic Outlook and Future Plans](index=2&type=section&id=Strategic%20Outlook%20and%20Future%20Plans) Interparfums outlines its strategic direction, focusing on agility, pricing actions, and long-term growth to expand market share [Strategic Outlook and Future Plans](index=2&type=section&id=Strategic%20Outlook%20and%20Future%20Plans) The company anticipates the full impact of strategic agility and pricing actions in Q4 2025 and 2026, reinforcing its commitment to long-term growth and market share expansion - Expects to see the full impact of agility and pricing actions reflected in sales in **Q4 2025 and through 2026**[14](index=14&type=chunk) - Continues to focus on long-term strategy, innovative product development, and high service levels for global retail and distribution partners[14](index=14&type=chunk) - This approach positions the company to perform well and expand market share as the industry evolves[14](index=14&type=chunk) [Corporate Information](index=2&type=section&id=Corporate%20Information) This section provides details on upcoming financial result announcements, company background, forward-looking statements, and contact information [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) Interparfums will release Q3 2025 financial results on November 5, 2025, with a conference call scheduled for November 6, 2025, at 11:00 am ET - Financial results for Q3 and nine months ended September 30, 2025, will be issued on **Wednesday, November 5, 2025**, after market close[15](index=15&type=chunk) - A conference call to discuss results and operations will be hosted on **Thursday, November 6, 2025, at 11:00 am ET**[15](index=15&type=chunk) - A live audio webcast will be available in the 'Events' tab of the Company's website, with replay available for approximately 90 days[16](index=16&type=chunk) [About Interparfums, Inc.](index=3&type=section&id=About%20Interparfums%2C%20Inc.) Interparfums, Inc., established in 1982, is a global fragrance company producing and distributing prestige products under license across European and US segments, managing over 20 brands - Operates in the global fragrance business since **1982**, producing and distributing prestige fragrance and related products under license[18](index=18&type=chunk) - Manages business in two operating segments: European based operations (through **72% owned Interparfums SA**) and United States based operations[18](index=18&type=chunk) - Portfolio includes brands like Abercrombie & Fitch, Coach, Jimmy Choo, Lacoste, Montblanc, Roberto Cavalli, and GUESS, distributed in over **120 countries**[19](index=19&type=chunk) - Goutal and Off-White will join the portfolio in **2026**[19](index=19&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This release contains forward-looking statements subject to inherent risks and uncertainties, with actual results potentially differing materially, and no intent to update this information - Statements not historical in nature are forward-looking and subject to risks and uncertainties[20](index=20&type=chunk) - Actual events or results may differ materially from those indicated by forward-looking statements due to various factors, including those discussed in the company's Form 10-K[20](index=20&type=chunk) - Interparfums does not intend to and undertakes no duty to update the information contained in this press release[20](index=20&type=chunk) [Contact Information](index=3&type=section&id=Contact%20Information) Contact details are provided for Interparfums, Inc.'s Chief Financial Officer and Investor Relations Counsel Corporate Contact Information | Contact | Name | Title/Role | Phone | Email/Website | | :-------- | :----------- | :------------------------ | :---------- | :-------------------------------- | | Interparfums, Inc. | Michel Atwood | Chief Financial Officer | (212) 983-2640 | www.interparfumsinc.com | | The Equity Group Inc. | Karin Daly | Investor Relations Counsel | (212) 836-9623 | kdaly@theequitygroup.com / www.theequitygroup.com |

Core Viewpoint - Interparfums, Inc. reported a record third quarter with consolidated sales growth of 1% for both the third quarter and year-to-date periods, driven by consumer interest in prestige and luxury fragrances despite a more selective spending environment [4]. Financial Performance - **Net Sales**: - Total net sales for the three months ended September 30, 2025, were $430 million, a 1% increase from $425 million in 2024. For the nine months ended September 30, 2025, net sales were $1,102 million, also a 1% increase from $1,091 million in 2024 [2]. - **European Operations**: - European based net sales rose 5% to $295 million for the third quarter, and 6% to $784 million for the nine months, supported by strong performance from the Jimmy Choo brand [2][5]. - **United States Operations**: - United States based net sales decreased by 6% to $137 million for the third quarter and by 10% to $327 million for the nine months, with organic net sales down 6% year-to-date, excluding the impact of the discontinued Dunhill license [2][8]. Market Dynamics - **Exchange Rate Impact**: - The average dollar/euro exchange rate for the third quarter of 2025 was 1.17, compared to 1.10 in the same period of 2024, resulting in a positive 2% foreign exchange impact [3]. - **Brand Performance**: - The Jimmy Choo brand grew 16% in the third quarter, while Lacoste fragrances are on track to achieve $100 million in sales this year [5]. - Coach brand sales increased by 6% for the quarter and 18% year-to-date, while Roberto Cavalli fragrance sales rose 44% in the quarter [6][11]. - Donna Karan/DKNY saw a decline of 14% in the third quarter, attributed to high growth levels in the previous year [10]. Management Insights - Management expressed optimism about the resilience of the overall market and the company's innovation and portfolio evolution, despite macroeconomic headwinds [4][12]. - The company is focusing on long-term strategies, innovative product development, and high service levels to expand market share as the industry evolves [12].

Core Insights - Interparfums, Inc. has been awarded "Beauty Company of the Year, Public" by Women's Wear Daily, recognizing its exceptional success in the beauty industry [1][2] - The award highlights the company's strong brand portfolio, creativity, and strategic partnerships with fashion houses globally [2] - The award ceremony will take place on October 28, 2025, during the WWD Honors dinner at the WWD Apparel & Retail CEO Summit in New York City [3] Company Overview - Interparfums, Inc. has been operating in the global fragrance business since 1982, producing and distributing prestige fragrance products under various brand licenses [4] - The company manages its operations through two segments: European operations via a 72% owned subsidiary, Interparfums SA, and U.S. operations through wholly owned subsidiaries [4] - The company's portfolio includes prestigious brands such as Abercrombie & Fitch, Coach, and Jimmy Choo, with products distributed in over 120 countries [5]

Core Insights - Dividend stocks are highlighted as valuable assets for portfolio stability, especially in varying interest rate environments [3][29] - The article suggests focusing on stocks with strong yields and quality indicators for investment in the second half of 2025 [4] Group 1: Dividend Stock Recommendations - **Sanofi (SNY)**: - Stock price: $50.90, Dividend yield: 3.1%, Payout ratio: 18.5%, Three-year FCF growth: 5.5% [7][10] - Sanofi is a French bio-pharmaceutical company with a strong revenue growth driven by its best-selling drug, Dupixent, and a robust drug pipeline [9][10][11] - **Schlumberger Limited (SLB)**: - Stock price: $59.97, Dividend yield: 3.3%, Payout ratio: 50.9%, Three-year FCF growth: 19.7% [20] - SLB is a leading provider of technology and services to the energy industry, with a strong balance sheet and a partnership with Nvidia for AI development [15][16] - **Fidelity National Financial (FNF)**: - Stock price: $34.26, Dividend yield: 3.3%, Payout ratio: 38.6%, Three-year FCF growth: 40.8% [19] - FNF maintains a healthy balance sheet and strong margins despite a slow housing market, focusing on dividends and strategic investments [21] - **ZTO Express (Cayman) (ZTO)**: - Stock price: $18.99, Dividend yield: 3.2%, Payout ratio: 55.9%, Three-year FCF growth: 34.2% [30] - ZTO is a major express delivery service provider in China, leveraging the growing e-commerce market while investing in AI for cost efficiency [22][24] - **Interparfums (IPAR)**: - Stock price: $94.50, Dividend yield: 3.4%, Payout ratio: 62.8%, Three-year FCF growth: 395.4% [31] - Interparfums has shown consistent revenue growth and aims for further increases in net sales and EPS, indicating strong market potential [27][28] Group 2: Investment Criteria - Stocks should have a dividend yield between 3% and 5%, a debt-to-equity ratio of 1 or less, and a payout ratio below 70% to ensure sustainability [6] - Companies should demonstrate dividend growth over the last three years and positive free cash flow growth to support higher dividends [6]

Core Thesis - Interparfums, Inc. (IPAR) is positioned as a strong player in the prestige perfume and cosmetics market, leveraging its licensing model and global distribution to drive recurring revenue and growth [1][5]. Company Overview - Interparfums, Inc. is a global creator and distributor of prestige perfumes and cosmetics, partnering with leading fashion and lifestyle brands [2]. - The company operates through various channels including department stores, specialty shops, and duty-free outlets, combining product sales and fragrance licensing agreements [2]. Business Model - The licensing portfolio includes long-term agreements with brands such as Montblanc, Coach, Jimmy Choo, and GUESS, providing stable revenue streams [2]. - The distribution networks across wholesale, retail, and travel retail channels enhance global reach and diversify exposure across Europe, the U.S., and emerging markets [3]. Competitive Advantages - Interparfums' scalable operations allow for the application of product development and marketing expertise across multiple brands, reducing reliance on any single partner [3]. - The company's focus on high-end, aspirational products, along with strong partnerships and marketing excellence, differentiates it in the market [3][4]. Financial Performance - As of September 18th, IPAR's share was trading at $104.17, with trailing and forward P/E ratios of 20.75 and 18.45 respectively [1]. Strategic Positioning - Interparfums transforms fashion brands into lifestyle experiences, creating emotional connections through scent and delivering affordable luxury to a global audience [4]. - The combination of strategic partnerships, recurring revenue, and global scale positions IPAR as a builder of global brands and a consistent performer in the consumer beauty sector [4].

Group 1 - The state of the consumer is currently a focal point for the beauty products industry, indicating potential shifts in consumer behavior and spending patterns [1] - Tariffs have a significant impact on the beauty products industry, affecting pricing and supply chain dynamics [1] - President Donald Trump's suggestion for companies to report earnings biannually instead of quarterly could alter financial reporting practices within the industry [1]