Home / Knowledge / News / Apparel/Garments / Perry Ellis Q3 FY'13 results in-line with expectations
Perry Ellis Q3 FY'13 results in-line with expectations
22
Nov '12
Perry Ellis International reported results for the third quarter ended October 27, 2012 (third quarter of fiscal 2013).

Third Quarter Results from Operations

In the third quarter of fiscal 2013, total revenues were $236.2 million compared to $248.4 million in the quarter ended October 29, 2011 (third quarter of fiscal 2012) and in-line with Company guidance of an expected mid-single digit decrease. The Company noted that continued growth within golf, direct to consumer and women’s contemporary was offset by planned decreases in its Perry Ellis and Rafaella collection businesses.

Oscar Feldenkreis, President and Chief Operating Officer, commented, “The third quarter was highlighted by continued positive momentum in our Golf and direct to consumer platforms, substantial progress on our initiatives to improve our Perry Ellis and Rafaella collection businesses and the disciplined management of expenses and continued strong cash flow.

“We are very pleased with the growth we are driving across our golf platforms through all channels of distribution. Across our direct to consumer business we are generating consistent sales and margin increases fueled by our unique products and focused merchandising planning by door. We are well on our way with our repositioning efforts in our Perry Ellis and Rafaella collection businesses, and expect an improved consumer response to our holiday collections in the fourth quarter and an even greater positive impact in spring 2013.”

Gross margin for the third quarter of fiscal 2013 was 32.1% as compared to 33.2% for the comparable period last year. The decline was attributable to higher promotional levels in the collection businesses coupled with the lower margins on the Callaway transitioned businesses. On the positive side, gross margin expansion was realized in the golf business, as well as in the direct to consumer business.

Selling, general and administrative expenses for the third quarter of fiscal 2013 decreased $2.4 million to $64.0 million compared to $66.4 million in the third quarter of fiscal 2012. The Company remains disciplined in this area as it executes its streamlining and consolidating initiatives.

As reported under generally accepted accounting principles (GAAP), net income for the third quarter of fiscal 2013 was $3.2 million, or earnings per fully diluted share of $0.21, compared to net income of $6.5 million, or $0.40 per fully diluted share in the third quarter of fiscal 2012.

After considering the costs of the exit of underperforming brands, and the streamlining and consolidation of facilities and other strategic initiatives, earnings per fully diluted share, as adjusted, for the third quarter of fiscal 2013 was $0.25 compared to earnings per fully diluted share, as adjusted, of $0.40 in the third quarter of fiscal 2012.

Adjusted EBITDA for the third quarter totaled $12.5 million or 5.3% of revenue.

Nine Months Operations Review


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Pantone

Textiles | On 25th Jun 2018

Pantone unveils polyester standards

Pantone, provider of professional colour standards for the design...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search