Interparfums Shares Plunge 6.27% at Close After Profit Warning
Licensed perfume specialist Interparfums closed on Thursday, November 20 at 22.74 euros, down 6.27% from the previous day. This latest decline extends a dark streak for the stock, which has fallen 17.55% over seven days and shows an underperformance of 35.7% over the year, while the CAC 40 has gained 10.39% over the same period.
Factors Behind the Decline
The drop is explained by the announcement on Wednesday, November 19 of a downward revision of the 2025 revenue target, reduced to 890 million euros from 900 million previously. Moreover, Interparfums did not provide any numerical forecast for 2026, breaking with its usual practice, which analysts perceived not as a signal of caution but of reduced visibility. This caution comes as the perfume market, supposedly the flagship category of beauty, slows significantly, with growth halved among some major sector players. The fourth quarter is expected to be particularly weak according to analysts' estimates, with revenue below 190 million euros, reflecting a year-on-year decline of 5.3%. For 2026, the group mentions a deteriorated economic and geopolitical environment, a negative impact of currency fluctuations of about 20 million euros, and the end of the Boucheron contract on December 31, 2025. The low share of capital traded on Thursday, at 0.24%, suggests widespread caution among investors in an already heavily bearish context.
Technical Perspective
From a technical standpoint, the situation appears critical. The RSI at 11 points indicates an extreme oversold zone, usually a sign of short-term selling pressure easing, but it mainly reflects the intensity of recent sell-offs. The price is significantly below its 50-day moving average at 28.52 euros and below the 200-day MA at 34.38 euros, confirming a structurally bearish trend entrenched for several months. An open gap on November 18 at 26.40 euros remains to be filled, and a return to the 100-day moving average around 30.50 euros could be considered in case of a technical rebound. The MACD remains negatively oriented, with a line at -0.73 and a histogram at -0.31, with no immediate reversal signal. The CMF at -0.38 further confirms that cash flows remain oriented towards selling. Support and resistance levels are respectively at 24.26 euros, corresponding to the previous day's closing price, and at 30.20 euros, a level now distant given the magnitude of the ongoing correction.
Future Outlook
CEO Philippe Benacin acknowledged that the year 2025 sees growth slowing after a doubling of revenue in four years. However, the group is preparing for a very dynamic 2027 with several major launches, particularly for Off-White and Longchamp. According to research offices, 2026 will be a transition year for Interparfums, with revenue estimates revised downwards to around 858 million euros. The consensus remains cautious, as long as sector signals remain mixed and visibility does not improve. The bearish sequence, which sees the stock losing more than a third of its value in a year, illustrates the harsh change in investors' perception of a stock long considered a story of steady growth in the luxury sector.
