Perry Ellis reports Q1 results

24/05/2006

Designer, distributor and licensor of apparel, accessories, sportswear and swimwear Perry Ellis International, Inc. has posted financial results for the first quarter ended April 30.

Net sales for the first quarter were $208.3 million compared with $229.4 million in 2005. Net income was also down from $8.9 million in 2005 to $5.9 million.

Total revenues were $214 million, a 5% decrease compared with $225.6 million reported during the corresponding period in 2005. The decline in total revenues during the quarter was anticipated as part of the company’s fiscal 2007 plan. It was primarily a result of previously announced reductions of private label and branded programmes at a national mid tier chain as well as the impact of federated department store door closures due to the May Company merger integration.