Perfumania swings to loss after Parlux purchase
Perfumania offers fragrances at Penn Station. Credit: Minyvonne Burke
Perfumania Holdings Inc., the Bellport-based distributor and retailer of designer and celebrity fragrances such as Donald Trump’s Success, swung to a loss in its second quarter, compared with a profit in the year earlier period.
The loss came as expenses jumped after its acquisition of Parlux Fragrances Inc., a Fort Lauderdale-based celebrity perfume maker.
Perfumania lost $18.6 million or $1.21 a share for the quarter ended July 28. A year earlier the company earned $521,000 or 6 cents a share.
In a filing Tuesday with the Securities and Exchange Commission, the company said it “believes the acquisition of Parlux will provide substantial benefits to the company’s stockholders.”
In April, Perfumania bought Parlux for $151 million, issuing common stock and paying $62.1 million in cash to Parlux shareholders.
Perfumania reported earnings after the close of regular trading; its shares rose 4 cents in after-hours trading to $7.78.
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