Perry Ellis Reports Preliminary Earnings

This afternoon, February 24th, 2014, Perry Ellis International

reported its fourth quarter preliminary fiscal 2014 earnings. Overall, shares have changed a bunch in after hours trading are currently now trading at $12.35 per share a whopping 21 percent down; the clothier company had a rally during the course of the regular trading session, as the company jumped a whopping 2.69 percent or $0.41 per share to a total $15.68 per share. Some key metrics are posted below: • The company issued preliminary fourth quarter results of $0.02. Fourth quarter results, are seen at earnings per share of $0.02 to $0.05 versus the $0.65 consensus estimate, • Sales $216 million versus $270 million estimate • Perry Ellis International Inc. sees full year 2014 EPS $0.34-0.37 versus $0.97 estimate; Sees Sales $912.0 million versus $965.0M estimate • Perry Ellis International Inc. sees full year 2015 Sales $910.0 million to 920.0 million versus $1.0 billion estimate. Perry Ellis is very uncertain of the retail future, this is what the company's chief executive officer and chairman had to say about the future “George Feldenkreis, chairman and chief executive officer of Perry Ellis International commented, "Despite our disappointing performance, we have an extremely solid balance sheet. We are committed to taking the necessary actions to drive our revenues and margins to enhance profitability. We believe that we have the balance sheet strength to fund growth in our core businesses, as well as to provide capital for our longer term strategic goals." Oscar Feldenkreis the chief operating officer, also said, "Our third quarter was disappointing as difficult performance in our direct to consumer and mid-tier channel businesses offset improvement in our focus areas of golf and collection sportswear. To this end, we continued with a positive momentum across all channels within our golf lifestyle apparel category, and our Rafaella collection sportswear business experienced a measured improvement in trend for the fall selling season. We did experience lighter traffic patterns and reduced consumer enthusiasm for spending during the quarter — most noticeably in the latter half of the fiscal quarter, which resulted in negative comparable store sales as compared to the three consecutive years of cumulative double digit comparable stores sales growth. We are focusing on a localization strategy for each of our stores in order to return to strong, positive comparable store selling performance as well as enhancing operational management where appropriate."