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Interparfums FY 2022: record earnings as operating profit soars 33 percent

THE WHAT? Interparfums has reported its results for the 2022 fiscal year. The fragrance giant recorded record earnings for the full year with net income up 40 percent on 2021’s figures and sales rising 26 percent to €706.6 million. THE DETAILS The company noted that it had extended its partnership with Montblanc until December 31, 2030 and, subject to the General Meeting’s ratification, hit its goal of achieving gender parity on its board. THE WHY? Philippe Benacin, Chairman and CEO, commented, “Against the backdrop of a turbulent economic and geopolitical environment, our sales and earnings continued to grow in 2022. In 2023, although many uncertainties still exist, this positive momentum should continue with sales expected to reach €750 million, driven by the continuing appeal of our brands for consumers in a global perfume market that remains buoyant.” The post Interparfums FY 2022: record earnings as operating profit soars 33 percent appeared first on Global Cosme
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What recession? Ulta reports sales rise of 4.6 percent in Q3 2022

What recession? Ulta reports sales rise of 4.6 percent in Q3 2022

THE WHAT? Ulta Beauty has announced its results for the third quarter of fiscal 2022. The US retailer saw comparable sales increase 14.6 percent in the 13 weeks to October 29, 2022 compared to the same period in 2021 and increased its outlook for fiscal 2022 accordingly.

THE DETAILS Net sales rose 17.2 percent to US$2.3 billion, which Ulta attributed to the ‘favorable impact from the continued resilience of the beauty category, retail price increases, and the impact of new brands and product innovation compared to the third quarter of fiscal 2021.”

Gross profit soared 22 percent to US$962.8 million. The company has opened 18 new stores in the third quarter, relocated one and remodeled eight bringing its total to 1,343 stores spanning 14.1 million square feet.

Net sales are now expected to hit US$9.95 to US$10 billion for the year, an increase of 12.6 percent to 13.2 percent in comparable sales.

THE WHY? Dave Kimbell, Chief Executive Officer, commented, “Amidst a challenging macro environment, the Ulta Beauty team delivered yet another outstanding quarter, with strong top and bottom-line results and growth across all major categories and channels. Our third quarter results reflect the sustained resilience of the beauty category and the strong emotional connection and loyalty we have cultivated with our guests. I am confident our business model, which offers unmatched breadth, value, and convenience, is even more relevant today and unlocks opportunities to further delight guests as we continue to lead the beauty category.”

The post What recession? Ulta reports sales rise of 4.6 percent in Q3 2022 appeared first on Global Cosmetics News.



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