Parlux says Q3 earnings should double

By Simon Pitman

- Last updated on GMT

Related tags Department store

Parlux Fragrances seems to be continuing its phenomenal run of
growth, having announced that it is anticipating a 95 per cent rise
in its Q3 sales turnover and a doubling of its earnings.

The record performance, which will be confirmed at a press conference in Florida tomorrow, should see Q3 sales turnover jump to somewhere in the range of $56 - $57 million, compared to $28.7 million in the same period last year, while earnings should work out around $0.55 - $0.57 per share, compared to $0.27 last year.

CEP Ilea Lekach said that despite the adverse retail conditions created by the highly active hurricane season, Paris Hilton fragrances once again achieved 'stellar' holiday season sales, while Guess fragrances also helped to fuel top line growth.

He also commented that new fragrance launches on the international market should contribute to further sales growth for the Q4 and beyond.

"Our Guess, Paris Hilton, and Maria Sharapova fragrances continue to be launched in a number of international markets and new offerings for our other product lines are planned for the near future,"​ Lekach said.

Considering these points, Lekach added that he was confident that earnings growth would continue to increase at an even faster rate, in line with previous guidance.

The Texas-based manufacturer of branded fragrances, watches and handbags has said that, despite its strong financial performance, it is still considering a number of strategic alternatives to boost shareholder values and has not discounted selling the business.

Although Paris Hilton fragrance sales have proved to be the bread and butter for the company, its Guess Fragrance is now moving up the ranks rapidly too. Distributed in 2,025 department stores in the US in July to September, the company says the brand has achieved top ten ranking across all accounts, including the number one spot at several major department stores.

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