Cheap Burberry UK q1 2013 results Greetings and

Inter parfums direction Burberry polo shirt cheap uk discusses Cheap Burberry UK q1 2013 results Greetings and the pet the inter parfums inc.First quarter 2013 business call.[ Information] Remember, This seminar is being recorded.Thanks, user.Good day time, and welcome to our 2013 first quarter business call.Following on from the financial review, i will turn the letter over to jean madar, a person's chairman and ceo, for a business overview and then we will move on to your queries.Before intending further, i want to remind listeners that this business call may contain forward looking statements, which entail known and unknown risks, uncertainties and other factors that may cause actual results to be materially distinctive from projected results.Problem of the include, but aren't limited to, the risks and uncertainties discussed under the headings forward looking statements and risk factors in our annual report on form10 k and the reports we file sometimes with the securities and exchange commission.We do not intend to and undertake no duty to update the ideas discussed.To add, regulation g codifications for the usage of non gaap financial measures, prescribes the stipulations for use of non gaap financial information in public disclosures.We believe that the presentation of the non gaap financial information most notable presentation is important supplemental measures of operating performance to investors.The content required to be disclosed for the presentation of non gaap financial measures is disclosed in our annual report on form10 k, as well as our questionnaire on form10 q, which has been filed with the investments and exchange commission.Over again, when we refer to our european based surgeries, we are primarily debating sales of prestige fragrances conducted through our 73% owned french subsidiary, inter parfums sa.When we discuss our unites states operations, we are primarily looking at sales of prestige and specialty retail products as well as travel amenities, all done through our wholly owned, internal subsidiaries.Selling it to our record first quarter.As we reported a day ago, net sales inflated 29.3% within $213.8 million produced by $165.4 million.At comparable foreign forex rates, net sales increasing 29.4%.European based jobs generated sales of $195.1 million, Themsleves 34.4% from the $145.2 million.Gross margin was 63% rather than 64.5%.Sg expense as a portion of sales was 31.7% compared with 45.3% throughout the 2012.Using margin was 31.3% of net sales compared with19.2% and net income as a result of Inter Parfums Inc.Enhanced105% to $31.7 million unlike $15.5 million.Basic and diluted net income per share was102% to $1.03 vs $0.51.We've amply covered first quarter sales drivers so i will now focus on the dynamics impacting our earning during the period.Gross margin arrived at 63%, a will fall of150 basis points versus the first quarter of 2012, primarily owing to rebates granted to certain customers as part of our planned effort to reduce inventory.Sg expense declined both in dollars and as a share of net sales.This was largely due to a large reduction in promotion and advertising costs included in sg expense.Promotion and offering totaled $14.7 million or even a 6.7% of net sales within first quarter of 2013, That down from $26.7 million or maybe16.2% of net sales in the last period.Advertising expenditures are actually concentrated in the second half of the year.By 2013, the lower advertising requirement in our burberry transition agreement, combined with a 29% increase in net sales resulted in a critically lower ad spending in total dollars and as a percentage of sales.As we build our firm in this new post burberry era, we are trying out our ongoing brands and we anticipate higher promotional expense in succeeding quarters of 2013.This intensive decrease in operating expense in the first quarter, not to mention the strong performance of our ongoing brands such as jimmy choo, lanvin or montblanc, and together with the exceptionally high level of burberry sales in the period, produced very important operating leverage.That generated the surge of operating income and margins, which made their way to our final conclusion.We generated cash flow from operations of nearly $20 million during the first quarter and closed the period with cash and cash equivalents and short term investments of more or less $313 million.Capital totaled $397 million, representing a capital ratio of 27:1.We keep having no long term debt and are extremely well positioned to pursue a variety of growth initiatives.For our 2013 outlook, as discussed in our report, we raised our expectations for net income thanks to inter parfums inc.To a selection of $1.10 to help you $1.12 per watered down share from $1 to $1.02 per watered down share.For right now, our net sales help and advice, which we bred in april, remains at in the region of $510 million.As we gain more presence as the year progresses, we will review and update our guidance as excellent.And of course, our outlook assumes an dollar remains at current exchange levels.Thank you so much, russ, and good early, all the people.Thank you for your participation on today's business call.Our fiscal year was quite an exceptional start to the year for the reasons russ highlighted.I believe, i'm even more pumped up about where we are going as a company.Our core customers are a very good one. Excluding burberry sales from both modern and prior year first quarter, European based deals increased15%, Thanks to both new product launches and recurring sales of our greatest hits like Lanvin in revenue, Jimmy Choo personal unsecured Scents and Montblanc Legend.We have a great lineup of item launches in the west including this new scent from van cleef arpels, identified reef, the personal fragrance from repetto and our first woman's fragrance from boucheron.We also have new scents for paul smith and with some luck, we'll be able to squeeze in our initial initiative for balmain before the year is over.Whole, we expect 2013 to be one of the busiest years from item launches in our history.Operation also has strength to bring a number of new products to market in the past year, for example anna sui's la vie de boheme.Anna sui is a united states designer of chinese descent, is a serious brand in asia.Expanding the geographic footprint of the trademark is part of our strategy.Refreshing this distinct product and packaging is also part of the investment investment proposal.As an example, with this help, banana republic has relaunched it's classic w fragrances with 3 sequential new packaging in that campaign.We modernized w scents.Stores in february and are now becoming available around the globe.While bebe hunger, which we introduced trapped on tape was fragrance for 2012, we can't win[ph], we'll be bringing an entire renewed bebe fragrance family to market later this year.With april, we took over-Production and distribution of the existing fragrance collection for alfred dunhill, our newest aroma license.Alfred dunhill is a premier global brand with roots in british tradition that has a fragrance legacy dating back to many decades.The case is one we know well.We will work with brand owner richemont to enliven their scent and[ph] aroma business.I think we can all agree that we know a substantial amount of that revitalizing and growing luxury british fragrance lines.Our budget on corporate infrastructure are more than sufficient to support this significantly larger company that we envision.Our planned course for growing our existing brands and adding new names using license, close ties or outright acquisitions, could possibly be being pursued fruitfully and without urgency.Our record, our deep pockets and the trend numbers of beauty gems[ph] to focus on their famous labels work in our favor.Speaking personally on[portuguese] you're able to send 2 largest shareholder, we have never been more obsessed with our company's future prospects than now. Before turning the call over for some difficulties, I only want to point out that slides that we are presenting at the RILEY Investor Conference in Santa Monica on May 21, The Citi Global Consumer convention in New York on May30 and the Chrysler[ph] Consumer national gathering also in New York on June13.That ends our constructed remarks.But, rider, we can open a floor for questions.[ Book of manuals] Our first question emanates from the line of Joe Altobello with Oppenheimer.Frederick altobello oppenheimer co.Corporation, preliminary seek out divisionfirst question, let me start with the well-Known, the hints and tips.So you the fatigue first quarter by $0.40 or so and you raised an entire year by $0.10, Are definitely going to reinvest $0.30 in promotion for the rest of this year and well, Why no improvement in the sales guidance or are you assuming no return on that $0.30?What we are i think you're looking at it slightly in a bit of a wrong way.First quarter, typically and in the past, will be a period where profitability, where margins are a little bit higher than that of all of those other Sale burberry handbags uk year.What we're trying to do here is really see and understand the results of our business on a go forward basis in a post burberry era.And unless and until we have a bit more visibility with respect to not only our own distributors but also the retailers themselves on exactly how much money we need to put behind the promotion and advertising of the brands, we want to take a rather cautious posture.Let any working hours pass.Let's see how things go about over time and we'll adjust our not only our advertising budgets, but we will adjust guidance as we see and because the periods develop.We'd like say that we have revised our guidance twice in the last 90 days.Ernest altobello oppenheimer co.Corporation, investigation divisionsecondly, can you walk us your major changes in cash in the unwinding of the burberry license.It looks like you've got taxes payable of about $90 million. I think that gets paid in 2Q and then how much burberry capital do you still have at the end of1Q?Now, in the bottom of the first quarter, you will most probably have the biggest number is really in the receivables and the taxes.You're true. The required taxes, One particular $60 million, $70 million will be paid in usually was paid April15, Even portugal[Indiscernible]. Who was in fact paid, Like i said previously, By April15.At the end of the season, since you can generally assume we have roughly a 90 day ar turn.So you're dealing with something like eur 80 million maybe, which equals almost $100 million of burberry receivables that will be collected over the next 90 days.For payables, i would imagine that number is sufficiently lower than the receivable number.So end end, i think the payment of the required taxes, the gathering of the receivables and the payment of the payables will probably net us to be a little bit positive but pretty close to even.Ernest altobello oppenheimer co.Corporation, web check out divisionjust one last one if i could.The rebates that you intend to alluded to earlier, russ, which advertisers was that?Was that just burberry or other brands as well you must be trying to reduce inventory?

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