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Perry Ellis record revenues for fiscal 2008 at $864 mn
13 Feb '08
3 min read
"Perry Ellis International is now enjoying its strongest financial situation in Company history, and with the addition of Laundry and C&C California we look forward to a better Fiscal 2009 and beyond," Mr. Feldenkreis concluded.
For the fourth quarter ended January 31, 2008, the Company expects revenues of approximately $212 million compared to $231.6 million for the fourth quarter ended January 31, 2007. This represents a decrease of approximately $19 million over the Company's revenues for the same period last year. This decrease includes the exit of bottoms private label programs at mass merchants, as well as the anticipated reduction of bottoms replenishment programs at mid-tier retailers.
"Our strategy of reducing exposure to low margin businesses and in particular, private label is key for Perry Ellis International's long term success," said Oscar Feldenkreis, president and COO.
"We are committed to increasing the allocation of resources to our growth platforms - Perry Ellis Collection, Golf, Hispanic, Swim, Retail and now Contemporary. These businesses carry better margins and have been performing at or above plan, leading to sustained growth in revenue and earnings."
The Company announced that earnings per fully diluted share are projected to meet or beat current mean estimate on First Call of $0.61 for fourth quarter of Fiscal 2008.
"We recognize that the first half of Fiscal 2009 will be challenging, however, current bookings and initial readings indicate that this year's first half should be at least equal, if not better than first half of last year. We will provide full guidance during our March 18th release call," Mr. Feldenkreis concluded.
Perry Ellis International to Present at Annual MAGIC Trade Show.
The Company also announced that it will host a breakfast presentation for investors at the MAGIC trade show in Las Vegas, Nevada on February 13th at 8:00 a.m. PST (11 a.m. EST, 10 a.m. CST).
For the fourth quarter ended January 31, 2008, the Company expects revenues of approximately $212 million compared to $231.6 million for the fourth quarter ended January 31, 2007. This represents a decrease of approximately $19 million over the Company's revenues for the same period last year. This decrease includes the exit of bottoms private label programs at mass merchants, as well as the anticipated reduction of bottoms replenishment programs at mid-tier retailers.
"Our strategy of reducing exposure to low margin businesses and in particular, private label is key for Perry Ellis International's long term success," said Oscar Feldenkreis, president and COO.
"We are committed to increasing the allocation of resources to our growth platforms - Perry Ellis Collection, Golf, Hispanic, Swim, Retail and now Contemporary. These businesses carry better margins and have been performing at or above plan, leading to sustained growth in revenue and earnings."
The Company announced that earnings per fully diluted share are projected to meet or beat current mean estimate on First Call of $0.61 for fourth quarter of Fiscal 2008.
"We recognize that the first half of Fiscal 2009 will be challenging, however, current bookings and initial readings indicate that this year's first half should be at least equal, if not better than first half of last year. We will provide full guidance during our March 18th release call," Mr. Feldenkreis concluded.
Perry Ellis International to Present at Annual MAGIC Trade Show.
The Company also announced that it will host a breakfast presentation for investors at the MAGIC trade show in Las Vegas, Nevada on February 13th at 8:00 a.m. PST (11 a.m. EST, 10 a.m. CST).
Perry Ellis International Inc
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