Home / Knowledge / News / Apparel/Garments / Perry Ellis updates full year earnings guidance
Perry Ellis updates full year earnings guidance
18
Aug '10
Perry Ellis International, Inc. announced, that based on preliminary estimates for its second quarter ended July 31, 2010 ("second quarter fiscal 2011"), the Company expects revenue of approximately $162 million, compared to $159 million during the comparable period last year. Revenues grew approximately 9%, excluding the planned exit of $11 million in unprofitable businesses from last year.

• Revenue growth of approximately 2% to an estimated $162 million compared to $159 million last year
• Preliminary second quarter loss per fully diluted share in the range of ($0.15) - ($0.17) compared to $(0.42) last year
• Operating income in the range of $1.6 - $1.9 million, as compared to an operating loss of ($1.9) million last year
• Company expects fiscal 2011 earnings per diluted share in the range of $1.53 to $1.68 as compared to previous guidance of $1.45 to $1.60 and remains comfortable with full year revenues in the range of $775 million to $795 million

Perry Ellis branded wholesale business as well as its owned retail stores were significant contributors to the company's revenue growth and earnings during second quarter fiscal 2011.

Preliminary second quarter results for fiscal 2011 show continued strong gross margin expansion, operating income and loss per fully diluted share improvement over the comparable period last year. Second quarter fiscal 2011 loss per fully diluted share is expected to be in the range of ($0.15) - ($0.17). This is compared to loss per fully diluted share of ($0.42) during the same period last year.

"Continuing to execute on our strategy of branded product and reducing our exposure to lower margin businesses is a key for Perry Ellis International's long-term success," commented Oscar Feldenkreis, President and COO. "Allocating resources and focusing on our branded growth platforms especially Perry Ellis Collection, Golf, Hispanic, and Swim will better position our Company to continue on its path of growth and further solidify its position as an industry leader in the men's apparel arena."

The Company continued solidifying its financial position throughout second quarter fiscal 2011. Positive operating cash flow provided the Company with the ability to re-purchase an additional $25 million of its senior notes, while also ending the quarter with full availability on its senior credit facility.

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. The Company's collection of dress and casual shirts, golf sportswear, sweaters, dress and casual pants and shorts, jeans wear, active wear and men's and women's swimwear is available through all major levels of retail distribution.

Perry Ellis International Inc

Must ReadView All

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Karel Williams
Dow Microbial Control

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
March 2017

March 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