Home / Knowledge / News / Apparel/Garments / Revenue decreases 5.5% at Perry Ellis in H1 FY'12
Revenue decreases 5.5% at Perry Ellis in H1 FY'12
17
Aug '12
Perry Ellis International reported results for the second quarter ended July 28, 2012 (“second quarter of fiscal 2013”).

Second Quarter Results from Operations

Total revenue decreased 2.3% to $209.4 million compared to $214.4 million in the quarter ended July 30, 2011 (“second quarter of fiscal 2012”) and in-line with Company guidance of a low-single digit decrease. The Company noted that continued momentum within golf, direct-to-consumer, and women’s contemporary was slightly offset by decreases in its Perry Ellis and Rafaella collection businesses.

Oscar Feldenkreis, President and Chief Operating Officer, commented, “We met our expectations for the second quarter and continue to make significant progress in our Perry Ellis and Rafaella collection businesses, which is encouraging as we move forward. We expect to see improved performance beginning with the holiday season and the new team’s full impact beginning in spring 2013.”

Gross margin for the second quarter decreased by 60 basis points to 33.1% compared to 33.7% last year due to costs associated with the exit of underperforming brands and businesses, the closing of a sourcing office, as well as increased promotional activity within the Company’s collection businesses.

Selling, general and administrative (“SG&A”) expenses for the second quarter of fiscal 2013 increased $2.7 million to $66.1 million compared to $63.4 million in the second quarter of fiscal 2012. This increase was attributed primarily to costs associated with the Company’s voluntary early retirement program, exited brands and businesses, and the exit and relocation of a third party logistics provider.

As reported under generally accepted accounting principles (“GAAP”), net loss for the second quarter of fiscal 2013 was $2.4 million, or earnings per share (“EPS”) of ($0.17), compared to net income of $1.8 million, or $0.11 per fully diluted share in the second quarter of fiscal 2012.

After considering the costs of the exit of underperforming brands, the voluntary retirement program, the closing of the sourcing office and the relocation of the third party logistics provider, earnings per fully diluted share, as adjusted, for the second quarter of fiscal 2013 was $0.01 compared to earnings per fully diluted share, as adjusted, of $0.11 in the second quarter of fiscal 2012.

Adjusted EBITDA for the second quarter totaled $7.4 million or 3.6% of revenue.

First Half Operations Review

For the six months ended July 28, 2012 (“first half of fiscal 2013”) total revenues decreased 5.5% to $475.0 million compared to $502.7 million for the six months ended July 30, 2011 (“first half of fiscal 2012”) and in line with Company guidance. The revenue reduction during the first half of the fiscal year, as compared to last year, was primarily attributable to softness in the Company’s collection businesses.

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search