On Thursday, July 23rd Inter Parfums declined over 10% to $29.94 per share. The decline was caused by preliminary Q2 revenue miss expectations. The company’s US based operations have shown solid growth but has been mitigated by continued negative market conditions in Eastern Europe and China. For instance, the company’s Anna Sui brand based in China saw a 24% decline in sales. These headwinds are expected to continue throughout the remainder of 2015, which is why the company is developing new products and global brand strategies for 2016.
As of July 25th, 2015 the stock price of IPAR is $29.75