Perry Ellis increased core brand focus successful in Q4 and full year 2015

By

Obi Anyanwu

Published
Apr 13, 2016

Perry Ellis International, Inc. announced on Tuesday its financial results for the fourth quarter and full year ended January 30, 2016.

 
Total revenue in the fourth quarter decreased 1.5% to $214 million from $218 million in the previous year’s fourth quarter. Revenues were impacted 1% by foreign exchange, but excluding these effects, revenue increased 3%.
 
Fiscal 2016 revenues were $900 million, a 1% increase from $890 million in the previous year. Excluding the impact of exited brands and foreign exchange, revenues increased 4.6%.

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The company shared key financial accomplishments and operational highlights for the year, which includes a 9% increase in international revenues, 5% increase in direct-to-consumer revenues, and 9% increasing in licensing revenues with 26 new licensees signed in fiscal 2016.
 
Oscar Feldenkreis, President and Chief Operating Officer commented, "During the quarter and throughout the year we focused on our strategic plan to support and advance our core global brands, to expand gross margin and to generate cost efficiencies. The successful implementation of our strategy culminated in our adjusted earnings per share increasing by more than 225% in the fiscal 2016 year. “
 
George Feldenkreis, Chairman and Chief Executive Officer, Perry Ellis International, added, "While the global retail landscape continues to be uncertain with major foreign currencies largely weakening against the U.S. dollar and unpredictable and volatile global consumer spending, we believe that we will successfully continue to navigate the environment and have taken a prudent approach to our 2017 plan.”
 
Perry Ellis continues to focus on specific strategic priorities that it believes will deliver sustainable growth in revenues and profits. The focused strategy includes, the optimization of competitive positioning for its Perry Ellis, Original Penguin, Golf Lifestyle and Women's Sportswear brands, making strategic investments, accelerating international expansion and focusing on controlling costs and expenses.
 
For fiscal 2017, the company expects total revenues to be in the range of $910 to $915 million.