Apparel maker Perry Ellis International Inc. (NASDAQ: PERY) released preliminary fourth-quarter and full-year results today that are weaker than expected. The company expects to post EPS of $0.35-$0.38 for the quarter, well below the consensus estimate of $0.44. Revenues are now expected to come in at $229 million, also below the consensus estimate of $251.5 million.
The company also announced a strategic brand review that could result in impairment charges or write downs in future quarters. The company plans to put more emphasis on brands with potential for growth, saying that its core businesses include men’s and ladies sportswear, golf and Hispanic lifestyle, and swim.
Perry Ellis also plans reduce non-core expenses and to “redeploy part of that capital to marketing and direct-to-consumer infrastructure.” The company suffered in the fourth quarter from promotional pricing that was aimed at drawing customers into its stores.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
