Home / Knowledge / News / Apparel/Garments / Perry Ellis Q1'FY14 net revenues exceed guidance range
Perry Ellis Q1'FY14 net revenues exceed guidance range
22
May '14
Perry Ellis International, Inc. reported results for the first quarter ended May 3, 2014 ("first quarter of fiscal 2015").
 
Highlights: 
-Company reports adjusted diluted EPS of $0.55 for first quarter ahead of guidance range of $0.25 to $0.30 in adjusted diluted EPS.
-Net revenues total $257 million as compared to guidance range of $230 million to $240 million. 
-Diluted GAAP EPS of $0.52 as compared to $0.74 in prior year. 
 
Oscar Feldenkreis, president and chief operating officer of Perry Ellis International commented, "We were encouraged by the results of the quarter which were ahead of our expectations. Despite a slow start to the spring season, we experienced positive momentum beginning in April with particular strength in golf lifestyle apparel, Original Penguin as well as our Nike swim businesses. We were also encouraged by the expansion in gross margin, which increased to 34.1% from 33.8% in the prior year."
 
Solid performance in our direct-to-consumer business resulted in a 5.6% comparable same store sales increase driven by Perry Ellis as well as by our direct e-commerce, which posted a 43% sales increase.
 
Fiscal 2015 First Quarter Results 
Total revenue for the first quarter of fiscal 2015 was $257 million, a 2% decrease compared to $262 million reported in the first quarter of fiscal 2014. As anticipated, revenues were impacted by planned exits of certain private and retailer exclusive branded programs. These exits were almost entirely offset by increases in golf lifestyle apparel, Nike swim and Original Penguin as well as stronger direct-to-consumer revenue results.
 
During the first quarter of fiscal 2015, gross margin expanded to 34.1% as compared to 33.8% in the same period of the prior year. The expansion reflected a favorable business mix as well as better sell-through at retail in our Perry Ellis and Rafaella collection businesses. The margin expansion also reflected reduced freight costs as a result of the infrastructure rationalization program initiated last year. 
 
Selling, general and administrative expenses totaled $69.7 million as compared to $71.0 million in the prior year. The positive benefit from the Company's infrastructure rationalization began to be realized during the first quarter of fiscal 2015. This was partially offset by additional investment in Europe associated with the introduction of Callaway in golf apparel as well as the expansion of Original Penguin across the European Continent.


Must ReadView All

Apparel/Garments | On 29th Apr 2016

India’s apparel sector has huge job creation potential

Export-oriented apparel production in India and other South Asian...

Apparel/Garments | On 29th Apr 2016

Raymond’s net sales up 5% in FY16 to Rs 5,595 cr

Renowned Indian textile, apparel and fashion brand, Raymond reported...

Apparel/Garments | On 29th Apr 2016

eBay and Innotrac merge to become Radial

eBay Enterprise and Innotrac have joined forces to become Radial, the ...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

How is the man-made fibre (MMF) industry shaping up? How is Mangalam...

Md. Hasib Uddin
APS Apparels Ltd

The importance of textile industry in the economy of Bangladesh is very...

Shakil Ahmed
Colorlines Clothing India Private Limited

How do companies into supply chain financing obtain their funds?

Leen Osterloh
Trutzschler Nonwovens

Mr. Leen Osterloh is post graduate in Economics from University of...

Mr David Rousse
Association of Nonwoven Fabric Industry (INDA)

David Rousse is the new President of the Association of Nonwoven Fabric...

Mohammad Hassan
Biax Fiberfilm

<b><i>About one in every 20 patients picks up an infection while...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

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

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search