Apparel firm Perry Ellis to review its brands portfolio
18 Feb '12
4 min read
“We believe that the infusion of new management and creative teams along with operations support in our Perry Ellis and Rafaella sportswear businesses will begin to be reflected in second half of fiscal 2013 results,” commented George Feldenkreis, chairman and chief executive officer of Perry Ellis International. “We will take a conservative approach in our financial plan until we see a lessening of the promotional environment.”
Mr. Feldenkreis added, “The Company believes its balance sheet to be strong. We have reduced our total net debt to capitalization to 31% versus 41% last year and this strength provides us the opportunity to continue to support our core businesses. During fiscal 2012, we financed senior subordinated notes through 2019 as well as refinanced our credit facility for an additional 5 year term.”
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