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 Wednesday reported fiscal fourth-quarter net income of $9 million, after reporting a loss in the same period a year earlier.
The Miami-based company said it had net income of 59 cents per share. Earnings, adjusted for one-time gains and costs, were 66 cents per share.
The clothing maker posted revenue of $204.2 million in the period.
For the year, the company reported net income of $14.5 million, or 95 cents per share, swinging to a profit in the period. Revenue was reported as $861.1 million.
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Perry Ellis expects full-year earnings in the range of $2.07 to $2.17 per share, with revenue in the range of $870 million to $880 million.
Its shares have dropped slightly more than 8 percent since the beginning of the year. The stock has climbed 20 percent in the last 12 months.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.