The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MIAMI, United States — Perry Ellis International Inc. on Thursday reported a loss of $3.6 million in its fiscal second quarter.
The Miami-based company said it had a loss of 24 cents per share. Earnings, adjusted for non-recurring costs, came to 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The clothing maker posted revenue of $201.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $197.6 million.
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Perry Ellis expects full-year earnings in the range of $1.95 to $2 per share, with revenue in the range of $885 million to $890 million.
Perry Ellis shares have increased 15 percent since the beginning of the year. The stock has fallen slightly more than 9 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.