High hopes at Perry Ellis despite Q4 declines
US-based apparel and accessories designer Perry Ellis International, Inc. is anticipating total revenue for the twelve months ended January 31 to be approximately $864 million compared with $830 million for prior-year period, an increase of approximately 4%.
However, for the fourth quarter ended January 31, the company expects revenues of approximately $212 million compared with $231.6 million for the prior-year quarter, a decrease of approximately $19 million.
Oscar Feldenkreis, president and COO, said: "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 completed its acquisition of two Liz Claiborne brands, Laundry and C&C California, on February 5. Chairman and CEO, George Feldenkreis, said: "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.”
