Perry Ellis to Miss Fourth Quarter Estimates (PERY)
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…
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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.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
