Home / Knowledge / News / Apparel/Garments / Perry Ellis COO pleased with strong Q1 results
Perry Ellis COO pleased with strong Q1 results
May '10
Perry Ellis International, Inc. reported results for the first quarter ended May 1, 2010.

• EPS increased 76% versus last year to $.81 and net income rose 92% to $11.2 million versus prior year.
• Company raises guidance for earnings per share and revenue for full fiscal year to a range of $1.45-$1.60 and $775-$795 million, respectively, from previous range of $1.25 - $1.40 and $770 - $790 million.
• EBITDA of $23.1 million increases 56% over prior year.
• 17% revenue increases in Perry Ellis Men's apparel and accessories businesses.
• Inventories reduced 9% vs. last year driven by continued disciplined planning.

First Quarter Results From Operations
"We are extremely pleased to report very strong results for the first quarter of fiscal 2011. Our multibrand, multichannel diversification strategy which is the foundation for our business platforms continues to prove successful in today's retail environment," commented Oscar Feldenkreis, President and COO of Perry Ellis International. "As the economy continues to show signs of a recovery, consumers are responding positively across our brand portfolio, reflecting our increased product focus. Our strong performance at retail has driven solid increases in our gross margins and positions us for continued revenue growth in the future."

For the first quarter of fiscal 2011, total revenues were $220.3 million compared to $220.0 million reported in the prior year period, and slightly ahead of Company expectations. Throughout the quarter the Company increased revenues by $17 million as a result of organic growth in several key core businesses as well as deliveries of the new brands that were launched during the quarter. However, this growth was offset by the previously announced exit of certain unprofitable businesses which represented $17 million of revenue for the first quarter ended May 2, 2010 ("first quarter of fiscal 2010"). With the increased mix of branded revenue, gross margins expanded by 420 basis points to 35.7% compared to 31.5% for the comparable period in fiscal 2010.

Mr. Feldenkreis, added, "We continue to see the consumer returning to more normal shopping patterns, which is contributing to increased shipments of our brands at most retailers. In addition, conservative inventory planning at retail combined with a favorable response to our offerings has translated into increased sell through rates at retail and less markdown assistance for our company. This has been a healthy development for all of us in the industry and in our case resulted in a substantial increase in our gross margin rate for the quarter."

Earnings before interest, tax, depreciation, and amortization ("EBITDA") for the first quarter of fiscal 2011 grew 56% to $23.1 million compared to $14.9 million during the first quarter of fiscal 2010. A table showing the reconciliation of EBITDA to net income is attached. In addition, net income for the first quarterended May 1, 2010 increased 92% to $11.2 million compared to $5.8 million for the period ending May 2, 2009.

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Poojaa Kumar Deepak

Zeven's performance sports apparel is designed for the Indian body type,...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi

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

Pranav Mishra

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


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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