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

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Ghana to set up equipment hub for apparel sector

Apparel/Garments | On 23rd Jan 2018

Ghana to set up equipment hub for apparel sector

As part of efforts to seek ways to improve market access for Ghana’s...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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