Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Equity Bottom-Up

<ul>
<li>IPAR continues to demonstrate the strength of the consumer’s willingness to purchase fragrances the Company develops</li>
<li>IPAR announced Q2 sales of $244.7M compared to our forecast of $198.0M. The strength in the quarter was notable in the USA while the European segment had a small lift</li>
<li>IPAR taking over the Donna Karan and DKNY brands should lead to greater sales performance in the second half of the year</li>
</ul>


IPAR continues to demonstrate the strength of the consumer’s willingness to purchase fragrances the Company develops
IPAR announced Q2 sales of $244.7M compared to our forecast of $198.0M. The strength in the quarter was notable in the USA while the European segment had a small lift
IPAR taking over the Donna Karan and DKNY brands should lead to greater sales performance in the second half of the year


<ul>
<li>IPAR reported strong demand for its fragrances in the first period even though the US Dollar strengthened against the Euro</li>
<li>The first quarter performance was at the onset of the weakening of the Euro, but IPAR’s management asserted there has been no sign of demand abating</li>
<li>IPAR’s stock has continued to underperform our expectations even though consensus estimates call for sales and earnings growth</li>
</ul>


IPAR reported strong demand for its fragrances in the first period even though the US Dollar strengthened against the Euro
The first quarter performance was at the onset of the weakening of the Euro, but IPAR’s management asserted there has been no sign of demand abating
IPAR’s stock has continued to underperform our expectations even though consensus estimates call for sales and earnings growth


<ul>
<li>IPAR has entered 2022 owning a series of new licenses and the reopening of international airports should result in sales growing at a faster pace than the current consensus estimates</li>
<li>In the case of the Donna Karan license, IPAR begins to recognize sales in the second half of the year when it is traditionally the peak sales period</li>
<li>The recent lifting of COVID-19 restrictions in Europe eases international travel, which should have a positive impact on sales in 2022</li>
</ul>


IPAR has entered 2022 owning a series of new licenses and the reopening of international airports should result in sales growing at a faster pace than the current consensus estimates
In the case of the Donna Karan license, IPAR begins to recognize sales in the second half of the year when it is traditionally the peak sales period
The recent lifting of COVID-19 restrictions in Europe eases international travel, which should have a positive impact on sales in 2022


<ul>
<li>IPAR updated its fourth quarter 2021 outlook by raising its sales forecast for the period. IPAR’s management had expressed caution when IPAR reported third quarter results</li>
<li>IPAR is forecasting Q4 sales of $210.8 million compared to our estimate of $144.7 million. The initial guidance IPAR had provided was conservative and based on limited clarity </li>
<li>IPAR remains one of our favorite growth stories in 2022. IPAR has expanded its brand portfolio and has a fragrance lineup that should result in sales growing by double digits</li>
</ul>


IPAR updated its fourth quarter 2021 outlook by raising its sales forecast for the period. IPAR’s management had expressed caution when IPAR reported third quarter results
IPAR is forecasting Q4 sales of $210.8 million compared to our estimate of $144.7 million. The initial guidance IPAR had provided was conservative and based on limited clarity 
IPAR remains one of our favorite growth stories in 2022. IPAR has expanded its brand portfolio and has a fragrance lineup that should result in sales growing by double digits


<ul>
<li>IPAR is on a sales trajectory to exceed expectations for 2021 and 2022 even though renewed COVID-19 concerns could hamper duty-free sales rebound</li>
<li>The sales growth IPAR has experienced year to date has been broad based with all of the Company’s major brands producing double-digit growth from 2019 levels</li>
<li>We believe IPAR continues to have a conservative approach with its initial annual sales guidance.</li>
</ul>


IPAR is on a sales trajectory to exceed expectations for 2021 and 2022 even though renewed COVID-19 concerns could hamper duty-free sales rebound
The sales growth IPAR has experienced year to date has been broad based with all of the Company’s major brands producing double-digit growth from 2019 levels
We believe IPAR continues to have a conservative approach with its initial annual sales guidance.


IPAR: Multiple Brands for Success in 2022, PT to $125

United States

Inter Parfums, Inc. manufactures, markets, and distributes a wide array of fragrances and fragrance related products. The Company's European-based operations produce and distribute prestige fragrance products primarily under license with brand owners. It's U.S.-based operations primarily produce and sell fragrance and personal care products under several specialty retail brands.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Inter Parfums (IPAR US)

IPAR: Growth Despite Forex Headwind

The increase in sales comes despite the strength in the US Dollar. Europe remains an overwhelming majority of sales and grew slightly from the year...

BWS Financial Inc

IPAR: Outpacing Expectations

The stock's valuation has dropped to levels not seen since the onset of the COVID-19 pandemic even though sales have continued to outpace...

BWS Financial Inc

IPAR: Growth Prospects of 2022

IPAR is set to benefit from a series of license wins from last year as fragrances begin to reach the market in 2022 and 2023.

BWS Financial Inc

IPAR: 2021 Momentum Continues in 2022

IPAR enters 2022 with multiple new brands along that should help lift sales higher. We continue to believe IPAR's management is conservative with...

BWS Financial Inc

IPAR: Multiple Brands for Success in 2022, PT to $125

The additions of new brand licenses for 2022 and success from its existing portfolio should result in IPAR having another double-digit growth sales...

BWS Financial Inc

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)