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Perry Ellis makes considerable progress in Q1
19 May '12
4 min read
George Feldenkreis, Chairman and CEO of Perry Ellis International, commented, “In an ever changing consumer environment, we are managing Perry Ellis International to maintain strong liquidity with a solid balance sheet and strong positioning of our brands. Companies such as ours - that are managed conservatively and focused on efficiency – are better positioned to take full advantage of all opportunities that arise.”
Focus and discipline in working capital management along with strong retail planning allowed the Company to reduce its inventory position by 7% to $167.2 million compared to $179.3 million at April 30, 2011 and by 16% as compared to $198.3 million at January 28, 2011. The Company's net debt to total capital totaled 31.0% as of April 28, 2012.
Accounts receivable decreased 4.0% to $175.2 million compared to $182.5 million at April 30, 2011.
Fiscal 2013 Guidance
The Company reaffirmed that for the twelve months ending February 2, 2013 (“fiscal 2013”) it anticipates revenue to be in a range of $990 million to $1.0 billion after exiting certain businesses.
The Company also anticipates adjusted fully diluted EPS to be in a range of $1.95 - $2.00. On a GAAP basis, the Company's diluted EPS is expected to be in a range of $1.85 - $1.90.
Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories and fragrances, as well as select children's apparel.
Focus and discipline in working capital management along with strong retail planning allowed the Company to reduce its inventory position by 7% to $167.2 million compared to $179.3 million at April 30, 2011 and by 16% as compared to $198.3 million at January 28, 2011. The Company's net debt to total capital totaled 31.0% as of April 28, 2012.
Accounts receivable decreased 4.0% to $175.2 million compared to $182.5 million at April 30, 2011.
Fiscal 2013 Guidance
The Company reaffirmed that for the twelve months ending February 2, 2013 (“fiscal 2013”) it anticipates revenue to be in a range of $990 million to $1.0 billion after exiting certain businesses.
The Company also anticipates adjusted fully diluted EPS to be in a range of $1.95 - $2.00. On a GAAP basis, the Company's diluted EPS is expected to be in a range of $1.85 - $1.90.
Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories and fragrances, as well as select children's apparel.
Perry Ellis International
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