Home / Knowledge / News / Apparel/Garments / Perry Ellis delivers organic revenue growth of 8.5%
Perry Ellis delivers organic revenue growth of 8.5%
23
Mar '12
Perry Ellis International Inc. reported results for the fourth quarter (“fourth quarter of fiscal 2012”) and the fiscal year ended January 28, 2012 (“fiscal 2012”).

Oscar Feldenkreis, President and Chief Operating Officer of Perry Ellis International commented, “Fiscal 2012 included strong sales and profit growth despite second half challenges driven by the difficult holiday season and product setbacks within our Perry Ellis & Rafaella collection businesses. Importantly, we ended the year in a solid financial position with the processes, initiatives and talent in place to improve our long term operating performance. While we expect some ongoing challenges, we are encouraged by the positive momentum of our core businesses at the start of fiscal 2013 with our priorities intensely focused on our namesake Perry Ellis brand. We remain confident in our strategies and our ability to increase value for Perry Ellis stakeholders.”

Fiscal 2012 Results

Fiscal 2012 revenues were $980.6 million, a 24% increase compared to $790.3 million reported in the prior year ended January 29, 2011 (“fiscal 2011”). Rafaella, which the Company acquired in late January 2011, contributed total revenue of $123.3 million for the year. The Company delivered organic revenue growth of 8.5% led by Golf lifestyle, swim, direct to consumer, and ladies dresses.

Net income attributed to Perry Ellis International, Inc. for fiscal 2012 was $25.5 million, or $1.60 per fully diluted share GAAP (“EPS”), compared to $24.1 million, or $1.70 per fully diluted share in fiscal 2011.

Net income attributed to Perry Ellis International, Inc. per fully diluted share as adjusted for fiscal 2012 was $1.94 compared to EPS per fully diluted share as adjusted of $1.88 in fiscal 2011. EPS, as adjusted excludes costs related to the early extinguishment of debt, interest, impairment charges of $6.1 million on long-lived assets in fiscal 2012, and impairment charges of $400k for certain retail store leaseholds in fiscal 2011.

Overall gross margin for fiscal 2012 was 33.0% compared to 35.7% in fiscal 2011. As the Company previously noted, retailers requesting later deliveries of goods, as well as a significant increase in promotional markdowns and sales allowances for the holiday season pressured overall revenues and gross margin in fiscal 2012.

Selling, general, and administrative (“SG&A”) expenses were well controlled throughout fiscal 2012 totaling $248.6 million or 25.4% to sales compared to $220.0 million or 27.9% to sales in fiscal 2011. The year over year increase reflects the Rafaella acquisition as well as 15 new retail doors that were opened throughout fiscal 2012.

The increase in SG&A was slightly offset by the reversal of long term incentive compensation. In addition, the Company recorded a non-cash impairment expense of $6.1 million associated with an asset held for sale as well as trade names.

Earnings before interest, taxes, depreciation, amortization, and impairments (“adjusted EBITDA”) for fiscal 2012 totaled $75.1 million, or 7.7% of total revenue. This represents a 16% increase over fiscal 2011 adjusted EBITDA of $64.7 million.

Click here to read more details:

Perry Ellis International Inc

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search